U.S. stock indexes were trading higher on Wednesday morning with Dow industrials attempting to recover from its worst day since March, while Treasury yields slipped from their multi-year highs, though the dollar rose to new 10-month highs, as did crude oil prices.
What’s driving markets U.S. stock indexes were trading higher on Wednesday morning, boosted by a positive economic data release from the Commerce Department, which showed orders for long-lasting or durable goods rose a strong-than-expected 0.2% in August. Economists polled by the Wall Street Journal had forecast a 0.5% decline.
The S&P 500 index is down 5.2% so far in September. During that time the yield on 10-year Treasury BX:TMUBMUSD10Y jumped 48 basis points, hitting its highest since October 2007 on Tuesday as traders bet that the Federal Reserve is likely to raise interest rates again in order to push inflation back to its 2% target.
“Heightened investor anxiety due to the looming possibility of a partial U.S. government shutdown is not helping matters,” Innes added.
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