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What's Moving Markets Today?

Dow Jones10-23 23:46

After yesterday's tech selloff, geopolitics and the economy are back in the spotlight on Wall Street today. Here are a few things to watch:

-- Oil prices: Brent crude prices are on pace for their highest close since April as traders bet on renewed fighting after the midterm election. The S&P 500 energy sector is up nearly 3%.

-- Economic concerns: The moves in oil seem to have reignited concerns about the path ahead for inflation and the economy. Yields on 10-year Treasurys have crept back to 5% after a steep drop yesterday. Stocks in sectors that are sensitive to economic shifts, like banks and industrial firms, are leading losses in the S&P 500.

-- AI jitters... again: Tech shares are making a partial recovery from yesterday's slide, after the Korean company SK Hynix scrapped the planned U.S. IPO of its memory-chip business. Micron stock is up, but neocloud providers like CoreWeave and IREN were lower in morning trading.

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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