U.S. Stocks Little Changed Ahead of Comey Testimony, U.K. Vote
(Bloomberg) -- U.S. stocks held steady as investors prepared for former FBI Director James Comey's hearing in the Senate about events leading up to his firing by President Donald Trump. Britons also headed to the polls for a snap vote.
The S&P 500 lost 0.1 percent to 2,430 as of 9:50 a.m. in New York. The benchmark rose 0.2 percent Wednesday, the first increase this week. The Dow Jones Industrial Average today drifted 12 points lower to 21,161.
- Russell 2000 up 0.1%; Nasdaq Composite down 0.1%
- Financial stocks leading, up 0.9%
- All but 3 companies higher in early trading; Regions Financial (RF), Bank of America (BAC), up at least 1.6%
- Energy unchanged after dropping the most in more than a week Wednesday
- Real estate, utility and staples shares lower
- 10-year Treasury swings from down 3bps to up 3 bps
- Volume 26% higher than 30-day average at this time
- VIX up to 10.4
- Among the most active shares in premarket trading, Yahoo rose 7.5 percent
- POLITICS:
- Comey will detail politically fraught conversations he had with Trump, according to his planned opening statement posted on a Senate website Wednesday, amid speculation in the media over whether the president had improperly tried to stifle any investigations
- Britons vote today as a tight outcome is forecast by many polls; investors are bracing for a range of possible outcomes to determine the next government of the U.S. strategic ally and trading partner
- ECONOMY:
- Jobless claims fell 10k to 245k; forecast range 230k-245k from 42 economists surveyed
- Americans' confidence hovering near a decade high bodes well for sustained expansion in the U.S. economy, Bloomberg Consumer Comfort Index figures showed Thursday; at 49.9 after prior week's 51.2, which was the second-strongest level since 2001
- EARNINGS: none
- Options Traders Increase FTSE 100 Bets Before Election: Chart
- Potential Equity Downside Limited in U.K. Election, HSBC Says
For more equity market news:
To contact the reporter on this story: Oliver Renick in New York at orenick2@bloomberg.net.
To contact the editors responsible for this story: Chris Nagi at chrisnagi@bloomberg.net, Sebastian Silva
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
