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Stock Market Today: Stocks lower as Gaza hospital bombing enflames middle east tensions

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Stocks are edging lower Wednesday as investors adopt a cautious stance on risk amid the dangerously escalating conflict between Israel and Hamas and a continued sell-off in Treasury bonds.

U.S. equity futures slipped lower Wednesday while safe-haven flows propped up the dollar even amidst an ongoing sell-off in Treasury bonds, as investors grappled with the dangerously escalating conflict between Israel and Hamas and indications that inflation pressures could trigger further Fed rate hikes.

Based on what I've seen, it appears as though it was done by the other team, not you," Biden said during a press briefing with Israeli Prime Minister Benjamin Netanyahu."But there's a lot of people out there not sure, so we’ve got a lot — we’ve got to overcome a lot of things." Data from the U.S. yesterday showing stronger-than-expected gains in retail sales, as well as solid September industrial production figures, added to the market's broader concerns over a renewed inflation spike. Those concerns were exacerbated by the upward revisions to the Atlanta Fed's GDPNow forecasting tool, which now shows current-quarter grow accelerating to an annualized gain of 5.4%.

Heading into the start of trading on Wall Street, with investors eyeing another busy round of corporate earnings, including Procter & Gamble before the start of trading and Netflix and Tesla after the close, futures contracts tied to the S&P 500 are indicating a 6 point opening bell decline.

 

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