EPISODE · Sep 27, 2023 · 1 MIN
📈📽️Media Stock Rise & More Market Movers
from Ainvest Pulse · host Cashcow
The Dow Jones Industrial Average fell on Wednesday, adding to significant losses from the prior day, influenced by a rise in Treasury yields and oil prices. The Dow decreased by around 68 points, or 0.2%. Simultaneously, the S&P 500 remained relatively stable, and the Nasdaq Composite grew by 0.2%. The benchmark 10-year Treasury yield reached its peak since 2007, and U.S. crude futures increased by almost 3%. The energy sector led the gains, with significant companies such as Marathon Oil and Devon Energy climbing more than 4%. Recent market pressure is attributed to increasing rates and underwhelming economic data, primarily concerning inflation. Greg Bassuk, CEO of AXS Investments, expressed that heightened inflation rates and its impact on higher borrowing costs for businesses are primary concerns. September traditionally witnesses weaker stock performance, and current figures reflect this trend. Despite ongoing market volatility, some strong buying opportunities are anticipated in the upcoming weeks. In individual stock news, various media stocks, including Warner Bros. Discovery and Paramount Global, witnessed an upswing after the writer's strike ended. MillerKnoll shares surged by over 27% post their earnings report, while shares of ChargePoint and Blink Charging also increased. However, Amazon shares dipped by 1% following an antitrust suit filed by the Federal Trade Commission.
What this episode covers
The Dow Jones Industrial Average fell on Wednesday, adding to significant losses from the prior day, influenced by a rise in Treasury yields and oil prices. The Dow decreased by around 68 points, or 0.2%. Simultaneously, the S&P 500 remained relatively stable, and the Nasdaq Composite grew by 0.2%. The benchmark 10-year Treasury yield reached its peak since 2007, and U.S. crude futures increased by almost 3%. The energy sector led the gains, with significant companies such as Marathon Oil and Devon Energy climbing more than 4%. Recent market pressure is attributed to increasing rates and underwhelming economic data, primarily concerning inflation. Greg Bassuk, CEO of AXS Investments, expressed that heightened inflation rates and its impact on higher borrowing costs for businesses are primary concerns. September traditionally witnesses weaker stock performance, and current figures reflect this trend. Despite ongoing market volatility, some strong buying opportunities are anticipated in the upcoming weeks. In individual stock news, various media stocks, including Warner Bros. Discovery and Paramount Global, witnessed an upswing after the writer's strike ended. MillerKnoll shares surged by over 27% post their earnings report, while shares of ChargePoint and Blink Charging also increased. However, Amazon shares dipped by 1% following an antitrust suit filed by the Federal Trade Commission.
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📈📽️Media Stock Rise & More Market Movers
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