Market Commentary - Foreign Markets
US equities end weak after recent streak of gains As on : 26-Sep-24  11:32

US stocks ended on a weak note on Wednesday amid uncertainty about the near-term outlook following recent gains that lifted the two of the major averages - the Dow and the S&P 500 - to record highs. The Dow ended down 293.47 points or 0.7 percent at 41,914.75, snapping a four-session winning streak. The S&P 500 settled lower by 10.67 points or 0.19 percent at 5,722.26, while the Nasdaq closed up 7.68 points or 0.04 percent at 18,082.21.

Among stocks, Nvidia Corporation climbed more than 2 percent, extending gains from the previous session. Amgen dropped nearly 5.5 percent.

On the economic front, data from the Commerce Department showed new home sales pulled back sharply in the month of August, plunging by 4.7 percent to an annual rate of 716,000, after soaring by 10.3% to a revised rate of 751,000 in July. Data on weekly jobless claims, durable goods orders and personal income and spending are due this week. Fed Chair Jerome Powell's speech on Thursday is also in focus. Meanwhile, the yield on the benchmark ten-year note, which moves opposite of its price, gained 3.795 percent.

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