• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Wall Street set for slow start as economic uncertainty weighs

September 15, 2021 by David Barret Leave a Comment

September 15, 2021

By Ambar Warrick

(Reuters) – U.S. stock indexes were set for a muted open on Wednesday as a slowing economic recovery and uncertainty over higher taxes weighed on sentiment, even though signs of inflation peaking eased fears of an early cut to monetary stimulus.

The S&P 500 had sunk to a more than three-week low on Tuesday, while the Dow hit a near two-month trough as investors fretted over the potential impact of a tax hike on corporate profits.

While signs of cooling inflation have made early tapering by the Federal Reserve seem unlikely, they have also raised the question of when exactly the bank would begin scaling back its massive pandemic-induced stimulus plan.

Economically sensitive sectors such as energy rose in premarket trading after largely underperforming their peers in the previous session.

But financial stocks, particularly big banks, fell as Treasury yields retreated on expectations of loose monetary policy in the near term. [US/]

“It’s just a softening of economic activity, not just in the U.S. but globally … we still have the COVID Delta variant that’s causing problems in a lot of areas,” said Randy Frederick, managing director of trading and derivatives for the Schwab Center for Financial Research.

“We were at all-time highs just a week-and-a-half ago, the market tends to be sensitive to any kind of news, any kind of bad economic data when it’s at all-time highs.”

U.S. S&P 500 E-minis were up 2.5 points, or 0.06%, at 8:12 a.m. ET. Dow E-minis were down 23 points, or 0.07%, while Nasdaq 100 E-minis were up 21.25 points, or 0.14%.

U.S.-listed Chinese stocks extended recent losses, as weak retail sales data pointed to a possible economic slowdown in the mainland.

A growing debt crisis in the country’s No. 2 property developer, China Evergrande Group, has raised fears of a possible impact to major lenders.

“The Asian banks will get hit hard if there’s a default, but then there will be a 10-year recovery process. The market’s getting a hang of it. The way they’ve managed the news flow seems quite clever. They haven’t let a swathe of bad news at once,” said Keith Temperton, sales trader at Forte Securities.

Concerns over Evergrande’s default have further dented appetite for Chinese stocks after a series of regulatory moves by Beijing against major technology firms wiped out billions in market value this year.

But U.S. technology stocks have fared better than other sectors this month, with investors preferring relatively safer spaces due to seasonally weak trends in September.

Apple Inc rose around 0.1% after tumbling 1% in the last session on a somewhat lukewarm response to the unveiling of its Phone 13 and a new iPad mini.

Among other movers, lending platform GreenSky Inc shot up more than 44% after Goldman Sachs Group Inc said it will buy the firm in an all-stock deal valued at $2.24 billion.

Goldman Sachs shares fell 0.9%.

(Reporting by Ambar Warrick and Sruthi Shankar in Bengaluru; Editing by Arun Koyyur and Maju Samuel)

Source Link Wall Street set for slow start as economic uncertainty weighs

David Barret
David Barret

Related posts:

  1. Golf-Garcia, Lowry and Poulter made captain’s picks for Europe’s Ryder Cup team
  2. Japan’s vaccines minister Kono favoured as next PM in opinion polls
  3. Hit to oil output from Ida overshadows demand impact, says Goldman
  4. Nigeria says 75 abducted children released amid army crackdown

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Adorable New Species Of Snailfish Filmed 3,268 Meters Below The Sea, And There’s A Video
  • Why Do Giant Pumpkins Get So Big?
  • Tree-Climbing Snails Have Evolved Sneaky Strategies To Dodge Predators In Japan’s Forests
  • Humans Started Butchering Elephants 1.78 Million Years Ago In Tanzania
  • Unexpected Discovery Hints We Might Be Inside A Black Hole
  • Why Are People Talking About This “Square Structure” Captured On Mars?
  • The World Has Five Oceans, Not Four – Discover The Latest One
  • Just 80 Percent Of People Can Perceive This Optical Illusion And No One Knows Why
  • Something Other Than Geological Processes Or Humans Created These Caves
  • Can Black Holes Lead To Other Places In The Universe?
  • The Devastating Communication Problem Facing Light-Speed Travel
  • The Great British Pet Massacre: One Of The Saddest Tragedies Of 1939
  • Would A Vacuum-Filled Balloon Float?
  • Queen Ant Produces Babies Of 2 Different Species, For The First Time Ever We Have A Complete Map Of Brain Activity, And Much More This Week
  • Yes, Your Attention Span Might Have Shortened, But That Might Not Be A Terrible Thing
  • This May Be The First Known Portrait Of A Viking – And It’s A Sexually Rampant “Beard Fondler”
  • The Largest Snake In Captivity Is A Humongous 7.7-Meter Reticulated Python Called Medusa
  • Poo Power: How Animal Dung Could Unlock New Antibiotic Treatments
  • Perfectly Preserved Dinosaur Tail Found Inside 99-Million-Year-Old Amber Was Mistaken For A Plant
  • Why Aren’t Full Photos Of The Milky Way Real? A NASA Analyst Explains The Obvious
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version