Stocks closed mixed Wednesday and oil hit its best level in three-years.
Here’s the scoreboard:
Dow Jones Industrial Average: 24,748.00 –38.63 (-0.16%)
S&P 500: 2,711.57 +5.18 (+0.19%)
AUD/USD: 0.7783 +0.0016 (+0.21%)
ASX 200 SPI futures: 5,861.0 +20.0 (+0.34%)
- Earnings season rolls on. Morgan Stanley posted first-quarter results that beat analyst expectations. Elsewhere, shares of IBM sank after the company gave disappointing guidance.
- Oil cracked $68 a barrel for the first time since 2014. The uptick in prices came on the back of a report that showed US oil inventories fell by 1.1 million barrels last week, more than expected.
- US government debt yields climbed after the Fed signaled concern over US-China trade tensions. The two-year yield hit 2.43%, its highest level since 2008.
- The US dollar rose as other recent geopolitical escalations seemed to simmer down, at least for the moment. President Donald Trump said Wednesday that CIA director Mike Pompeo met with Kim Jong Un earlier this month and that it went “very smoothly.”
Here’s Thursday’s economic calendar:
- Australia’s jobs report is due out.
- The US will report retail sales and initial claims data.