Dow Jones down slightly; Fed officials speak, reports



Investment Network

As of 06:25 ET (11:25 GMT), the contract was down 80 points, or 0.2%, and was trading down 11 points, or 0.3%, and down 35 points, or 0.3%.

Wall Street’s main indexes, which had their best week of the year last week, edged higher on Monday on hopes that an unprecedented era of monetary tightening may be coming to an end.

Earlier on Tuesday, a rate hike added to the negative sentiment as inflation fell more slowly than expected.

Three Fed officials will speak later this week, followed by two appearances by the chairman in the coming days, as investors will closely watch for clues on the central bank’s next steps to control inflation.

The quarterly earnings season continues this week, and although the season is coming to an end, more than 80% of companies have already reported.

Ride-hailing platform Uber Technologies Inc (NYSE: ), energy company Occidental Petroleum Corp (NYSE: ) and online dating company Bumble (NASDAQ: ) and is one of the major companies scheduled to report earnings on Tuesday.

Apart from, we work (NYSE: ) has filed for bankruptcy in a New Jersey court as the company faces declining office occupancy and high rents due to the pandemic.

Oil prices fell sharply on Tuesday to their lowest level in more than two months as disappointing trade data from China stoked concerns about weak demand from the world’s largest oil importer.

China’s unemployment rate unexpectedly rose to its worst level in 17 months as overseas demand worsened. China’s unemployment rate fell more than expected in October.

Futures were down 1.6% at $79.56 a barrel as of 06:25 ET, while the contract was down 1.8% at $83.67 a barrel – both below their lowest levels since late August.

Elsewhere, prices fell 0.9% to $1,970.95 per ounce, trading down 0.4% at $1.0678.


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