US Markets LIVE: Dow Jones and Nasdaq Composite Index Sept 15, 2023
US Markets LIVE, Sept 15, 2023: The US stock market indexes opened lower on Friday after a solid gain in the previous session, as investors’ focus now shifted to Federal Reserves next week’s interest rate decision.
Dow Jones opened slightly lower by 5.07 points at the 34902.04 level, while the S&P 500 made a negative opening of 7.12 points at the 4497.98 level. The tech-heavy Nasdaq Composite index also made a lower opening of 36.85 points at 13889.20 level.
US Markets Live Today
At 11.55 AM EDT, The US stock market key indexes extended their early losses. Dow Jones is trading lower by 178.59 points or 0.51 percent at the 34728.52 level while the S&P 500 is trading negative by 37.14 points or 0.82 percent at the 4467.96 levels. The tech-heavy Nasdaq Composite index fell sharply lower by 184.79 points or 1.33 percent at 13741.26 levels.
US Market News
The US stock markets are falling on Friday, as investors turn their focus on the Fed’s next week policy decision. Futures traders are expecting the Fed to skip the rate hike in an upcoming meeting and will be closely Fed Chir Powell’s press conference for further cues.
On the economic front, the latest data from the University of Michigan showed that the consumer sentiment reading declined to 67.7 in September from 69.5 recorded in the previous month, and the expectation was 69.1.
Another report from the Federal Reserve showed that Industrial production, a measure of volume in manufacturing, mining, utilities, and related sectors, rose 0.4% in August, down from 0.7% in July, while the expectation was 0.2%.
Members of the United Auto Workers (UAW) went on strike at the three major assembly plants of General Motors, Ford, and Stellantis as the talks between the union and automakers failed to reach a deal by the Thursday night deadline. The share price of both General Motors and Stellantis are trading higher while Ford is trading marginally lower.
The yield on a 10-year Treasury note is slightly higher at 4.320%, it settled at 4.296% in the previous close on Thursday.
Stock News Today
On the earning front, the software maker Adobe is trading lower by about 5% despite the company beating revenue estimates for the third quarter. Homebuilder Lennar is down around 4% even after the company’s top and bottom line beat estimates.
The chipmaker stocks are trading lower after the report that Taiwan Semiconductor Manufacturing asked its major suppliers to delay deliveries of high-end chipmaking equipment, citing customer demand fears. The semiconductor shares fell sharply, and shares of ASML Holding, KLA Corporation, Lam Research, and Applied Materials slipped 3-4%
The share of financial institution Charles Schwab dropped nearly 4% after the company reported a decline in client assets in the last month.
Oil Prices
The crude oil prices are trading marginally higher on Friday, climbing to their highest level since early November 2022. Further stimulus measures and better-than-expected economic data from China, the major importer of crude boosted the sentiments.
The US WTI crude is trading higher by 0.32% at $90.46 per barrel while London-based Brent crude oil is trading slightly higher by 0.12% at $93.81 per barrel.
US Markets at Close
The US stock markets closed sharply lower on Friday, as chipmakers slipped on concerns about weak consumer demand while rising Treasury yields dragged technology and growth stocks.
Dow Jones fell 288.87 points or 0.83 percent and ended at 34618.24, while S&P 500 declined 54.78 points or 1.22 percent and settled at 4450.32. The tech-heavy Nasdaq fell the most, down by 217.72 points or 1.56 percent, and settled at 13708.33.
Also, read Stock Market Prediction Next Week (11-15 Sept 2023)
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