Trade fair today: live updates

An hour ago

The dollar index reaches the lowest level since July and is heading for the first negative year since 2020

The dollar index fell to 101.312 on Wednesday, trading at its lowest level since July 27.

For the year as a whole, the index is down more than 2% and is on track for its first negative year in three years, following a 6.7% decline in 2020. The dollar index is down 2% in December and is on track to the first negative month in three years.

The index is also on track for a quarterly decline of 4.6% and its worst quarterly performance since the fourth quarter of 2022.

Elsewhere, the euro has risen 3.4% against the dollar in 2023 and is on track for its best year since 2020, when it rose almost 9%.

—Samantha Subin, Gina Francolla

2 hours ago

The manufacturing sector is seeing a decline in the Richmond region, a Fed survey shows

Manufacturing activity in the Virginia region retreated in December as shipments and new orders retreated, the Richmond Federal Reserve reported Wednesday.

The Central Bank District survey of business activity in the Virginia, Delaware and North Carolina regions recorded a reading of -11 for the month, down from -5 in November and worse than the Dow Jones’ -6 estimate. The spread survey measures the percentage of business growth relative to contraction, so a negative number indicates a decline.

Shipments fell to -17, new orders fell to -14 and the employment index fell to -1, from zero the month before. In terms of inflation, both the price paid and received increased to 4.24 and 2.79 respectively.

—Jeff Cox

2 hours ago

Shares open little changed

Stocks opened little changed on Wednesday as the S&P 500 neared its all-time high.

The Nasdaq Composite rose 0.2%, while the S&P hovered near the flatline. The Dow Jones Industrial Average lost 48 points.

–Samantha Subin

3 hours ago

Natural gas reaches the highest level since early December, but is heading for the worst year since 2006

Natural gas rose more than 4% on Wednesday, reaching its highest level since December 6. But it is still on track for a loss of almost 41% this year and its worst year since 2006.

For December, natural gas prices have fallen by more than 5% and are on track for the second consecutive losing month.

Some of the biggest natural gas laggards in 2023 include Tellurian, Comstock and Antero. All three stocks have lost more than 26% or more.

—Samantha Subin, Gina Francolla

4 hours ago

Stocks making the biggest moves before the bell: Coherus, NetEase and more

Here are the stocks moving the most in premarket trading:

Read the full list of stocks that are moving here.

– Lisa Kailai Han

5 hours ago

Tesla will renew the Model Y, the report says

Tesla is ready to revamp its Model Y vehicle from the company’s Shanghai factory, Bloomberg News reported, citing people familiar with the matter. According to the report, production of the new Model Y could begin by the middle of next year.

Tesla shares were little changed in the premarket.

– Fred Imbert

8 hours ago

A flat open space in Europe

The pan-European Stoxx 600 index was little changed in early trading. Technology stocks contributed 0.6% to the leading gain, while insurance stocks fell 0.4%.

The European blue chip index remained around 477.6, up 12.41% on the year and not far below the all-time high of 483.44 set in November 2021.

-Elliot Smith

17 hours ago

Where stocks stand as the end of the year approaches

The three major indexes remain on track for notable gains this month, this quarter and this year, with just three sessions remaining on all three measures.

This is how much the three won in December:

These are the progress in the fourth quarter:

  • The Dow Jones is up 12.1%.
  • The S&P 500 is up 11.4%.
  • The Nasdaq Composite has gained 14%.

Here’s where the three stand over the year:

  • The Dow Jones is up 13.3%.
  • The S&P 500 is up 24.4%.
  • The Nasdaq Composite is up 44%, marking its best year since 2003.

– Alex Herring

17 hours ago

Ascent Industries climbs after announcing deal to sell industry

Manufacturing shares of Ascent Industries rose more than 5% in extended trading after announcing the sale of its carbon steel pipe and tube business.

The Illinois-based company sold the business, called Specialty Pipe & Tube, in an all-cash transaction worth about $55 million. Profits from the transaction, which closed Friday, will be used in part to pay down debt, Ascent said in a news release.

Shares are down nearly 7% in 2023, countering the broader market’s rise.

– Alex Herring

18 hours ago

Stock futures are little changed

Stock futures were muted shortly after 6:00 PM ET.

Futures tied to the Dow Jones, S&P 500 and Nasdaq 100 all traded near flat.

– Alex Herring

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