The Money Edit

Opening bell

Opening bell

S&P futures 0.04%
Nasdaq 27,244.28 0.45%
Brent crude $98.40 0.9%
Dow Jones 0.36% to 51,863.69
Hang Seng 0.8% to 24,896.04
Stoxx 600 0.24%
US 10-year yield 4.96%

Nasdaq hits record, oil slides on Iran talks

Overnight

The Nasdaq Composite closed at a record 27,244.28 on Tuesday, up 0.45%, while the Dow Jones Industrial Average fell 0.36% to 51,863.69 and the S&P 500 finished essentially flat at 7,764.64, just short of its own all time high. Asia was mixed overnight, with Tokyo closed for a holiday and due to reopen Thursday, Hong Kong's Hang Seng down 0.8% to 24,896.04, Shanghai down 0.4% and South Korea's Kospi up 0.5% to 7,052.75. Europe drifted lower this morning, with the Stoxx 600 down about 0.24%, and US stock futures, which are contracts that show where traders expect the indexes to open, were barely moved.

What to watch

The main US release is the S&P Global flash purchasing managers index at 9:45am Eastern, a first cut survey of business activity where any reading above 50 means the sector is growing. Weekly government figures on crude oil stockpiles follow at 10:30am Eastern, and they matter more than usual because oil has fallen for six straight sessions on hopes of a US and Iran deal, with Brent now near $98 after trading close to $110 last week. Cintas and Paychex report earnings, and later this week President Trump is due to meet Chinese leader Xi Jinping in Washington, with artificial intelligence expected to dominate.

Sources