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Stock market today: Wall Street drifts following more strong economic reports

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NEW YORK (AP) — Wall Street is drifting after reports showed the U.S. economy continues to storm ahead despite much higher interest rates that have already lashed the stock market. The S&P 500 was off 0.

2% early Thursday, coming off an eighth drop in 10 days that dragged it to its lowest close since May. The Dow edged down 21 points, and the Nasdaq composite slipped 0.1%. The bond market has been at the center of sharp moves for financial markets around the world, and Treasury yields were swinging following a deluge of economic reports. Hasbro sank after cutting its profit outlook.BANGKOK — World shares and crude oil prices have slipped ahead of an update on the state of the U.S.

Germany's DAX fell 1.4% to 14,681.30 and the CAC 40 in Paris shed 0.8% to 6,863.37. Britain's FTSE 100 was down 0.7% at 7,365.02.The yield on the 10-year Treasury has nudged back up toward 5%. It was at 4.97% early Thursday after dipping to 4.82% late Tuesday. Sydney's S&P/ASX 200 shed 0.6% to 6,812.30. In Bangkok, the SET sank 2.2%, while Taiwan's Taiex fell 1.7%.

In the oil market, U.S. benchmark crude oil sank $1.23 to $84.16 per barrel in electronic trading on the New York Mercantile Exchange. A barrel of U.S. crude rose $1.65 to settle at $85.39 on Wednesday.

 

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