Last Updated 4:00PM EST
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Stock indices finished today’s trading session in the red. Indeed, the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) fell by 0.5%, 0.8%, and 1.4%, respectively. Furthermore, the U.S. 10-Year Treasury yield decreased to 3.86%. The Two-Year Treasury yield also decreased, as it hovers around 4.36%.
Earlier today, the National Association of Realtors released its U.S. Existing Home Sales report, which measures the change in sales of existing residential buildings during the previous month on an annualized basis. Existing home sales came in at 3.82 million for the month of November, above the expected 3.78 million. As a result, existing home sales increased month-over-month by 0.8% after a -4.1% decrease in October.
Last Updated 9:37AM EST
In step with broader global markets, U.S. indices trended lower at the open on Wednesday morning. The Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down about 0.05%, 0.16%, and 0.18%, respectively, at 9:37 a.m. EST, December 20.
The U.S. current account deficit in the third quarter has narrowed to -$200.3 billion from the previous mark of -$216.8 billion. Meanwhile, oil prices were trending higher at the time of writing amid geopolitical tensions in the Middle East following Houthi attacks on ships in the Red Sea. The WTI crude oil futures were up, hovering near $75.09 per barrel as of the last check.
Shares of logistics, e-commerce, and business services provider FedEx (NYSE:FDX) fell about 10% at the open on an earnings miss and soft guidance. General Mills (NYSE:GIS), too, remained under pressure after scaling back its financial outlook.
Meanwhile, shares of precision oncology company Guardant Health (NASDAQ:GH) dropped over 12% after the company announced the tentative date of the FDA Advisory Panel Review of its Shield blood test.
Moving to key earnings releases, semiconductor company Micron (NASDAQ:MU) will report its Fiscal first-quarter financial results today after the market closes. Analysts expect that the company will report a loss per share despite higher revenues.
Elsewhere, European indices are set to open on a positive note as investors cheer the more-than-expected drop in U.K. inflation figures for November, which can pave the path for interest rate cuts.
Asia-Pacific Markets Remained Mixed on Wednesday
The Asia-Pacific indices remained mixed on Wednesday as investors evaluated Japan’s central bank’s monetary policy. The Bank of Japan kept interest rates unchanged.
Hong Kong’s Hang Seng index closed 0.66% higher. However, China’s Shenzhen Component Index and Shanghai Composite ended down by 1.41% and 1.03%, respectively.
Japan’s Nikkei and Topix indices finished higher by 1.37% and 0.67%, respectively.
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