The major US stock indices are raising their gains from yesterday when the Dow rose 43.04 points, the S&P rose 17.40 points and the NASDAQ and dextrose 59.51 points.
Today, the snapshot of the market 6 minutes into the open is showing:
- Dow Industrial Average down 154.62 points or -0.45% at 33852.27
- S&P index down -27.32 points or -0.63% at 4310.13
- NASDAQ index down -93.08 points or -0.70% at 13178.24
US yields today are lower but off their lowest levels:
- 2-year yield 5.138%, +0.7 basis points
- 5-year yield 4.605% -1.3 basis points
- 10-year yield 4.5 to 3% -1.9 basis points
- 30-year yield 4.648% -1.1 basis points
Concerns about the government shutdown and potential downgrading of US debt, slower growth, Fed being higher for longer, UAW's strike are weighing on equities.
In China concerns about Evergrande is back in the headlines.Shares of the company dropped for the second day in a row after its primary domestic unit, Hengda Real Estate Group, revealed it missed a bond payment. The company failed to pay both the principal and interest on a 4 billion yuan bond due by September 25, leading to an 8.14% decline in Evergrande's stock. This is another blow to Evergrande, a beleaguered property firm central to a broader real estate crisis in China. The company's stock had already plummeted over 20% the previous day due to its inability to issue new debt, stemming from an investigation into Hengda.
