US mid-day: Major indices drop after Wednesday’s win
By Joseph Toppe
15:58, 10 February 2022
Forex: USD loses step
On Thursday, the US dollar slipped to $0.87 of the euro, while holding at $0.74 of the British pound sterling and $1.27 of the Canadian dollar.
Wall Street investors are being cautious on Thursday as the Dow falls and tech shares pull the Nasdaq lower.
Halfway through the session, the Dow Jones Industrial Average (US30) was down approximately 150 points, or 0.42%, the S&P 500 was down around 0.57%, while the Nasdaq Composite (US100) was roughly 0.63% lower.
On Wednesday, the Dow went up 305 points, or 0.86%, the S&P went up 1.45%, and the Nasdaq went 2.08% higher.
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Winners & losers: Roku rocks
In the technology sector, shares of Microsoft are down approximately 1.04%, Apple is around 0.91% in the red, while Alphabet is off nearly 0.55% and Intel is off almost 0.46%
Shares of Texas Instruments are down almost 0.72%, Advanced Micro Devices (AMD) is roughly 1.92% in negative trading, while Nvidia is around 0.26% lower and Roku is approximately 5.23% higher.
In the beverage industry, PepsiCo is off near 1.54%, Coco-Cola is roughly 1.82% higher, as Monster Beverage is down almost 1.95% and Molson Coors hovers around 0.35% in the green.
Oil: Keeps rising
Oil futures are up again on Thursday with West Texas Intermediate crude for March delivery spiking $1.04, or 1.1%, to $90.70 a barrel on the New York Mercantile Exchange, while April Brent crude added 86 cents, or 0.9%, to $92.41 a barrel on ICE Futures Europe.
In the energy sector, shares of Diamondback Energy are near 2.99% higher, Chevron is up approximately 0.094%, while ConocoPhillips is up around 0.85%, and Hess is roughly 0.75% in the green.
Gold: Loses
Gold futures are down on Thursday as April gold futures retreated $3.80, or 0.2%, to $1,832.80 an ounce.
Crypto: Dogecoin down
Prominent cryptocurrencies are mostly green on Thursday with bitcoin up 1.54%, ethereum up 0.06%, and litecoin and monero 1.27% and 0.68% higher respectively.
In other digital assets, bitcoin cash is up 3.66% while dogecoin is 0.79% lower.
Treasury: Yields hop
Yields on 10-year Treasury notes improved to 1.987% from 1.928% Wednesday, while the yield on two-year notes went up to 1.493% from 1.346%.
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