Stock market today: Wall Street drifts ahead of Election Day, while oil rises and yields sink

NEW YORK — U.S. stocks drifted ahead of a momentous week full of potential flashpoints, while oil prices climbed and Treasury yields dropped. The S&P 500 slipped 0.3% Monday, even though the majority of stocks within the index rose. The Dow Jones Industrial Average fell 0.6%, and the Nasdaq composite lost 0.3%. Beyond Election Day in the United States on Tuesday, the Federal Reserve will also be meeting on interest rates later this week.

But the majority of stocks within the S&P 500 rose, including a 2.3% gain for Fox after it reported a stronger profit than expected. That was despite increases in some costs, including for newsgathering at Fox News to cover this election cycle. “Bottom line – the US election is incredibly important, but the process is likely to be incredibly noisy,” according to Michael Zezas, a strategist at Morgan Stanley.

On Monday, Treasury yields gave back a chunk of those gains. The yield on the 10-year Treasury fell to 4.31% from 4.38% late Friday. In the oil market, the price for a barrel of U.S. crude rose 2.8% to $71.03 after Saudi Arabia and other oil exporters said they would delay plans to increase the amount of crude they produced. Brent crude, the international standard, rose 2.7% to $75.08 for a barrel.

Beyond that meeting and Election Day in the United States, this week will also feature the latest meeting of the Federal Reserve, where the widespread expectation is for it to cut its main interest rate for a second straight time.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nvidia stock rises to intraday record high as Wall Street stays bullish ahead of earningsNvidia stock hit an all-time intraday high Monday as Wall Street analysts raised their price targets on the AI chipmaker.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: US stock indexes slip ahead of presidential electionNEW YORK (AP) — U.S. stocks are slipping ahead of a momentous week full of potential flashpoints, but other markets are already moving more sharply, including a jump for oil prices and drops for Treasury yields. The S&P 500 fell 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street slips below its record highsNEW YORK (AP) — U.S. stocks are edging down from their records. The S&P 500 slipped 0.3% in early Thursday trading. The Dow Jones Industrial Average was down 65 points after likewise setting an all-time high the day before.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Asian markets are mixed after another winning close on Wall StreetBANGKOK (AP) — Asian shares were mixed on Monday after U.S. stocks rose to records to close out their latest winning week. U.S. futures also were mixed and...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »