Market Updates
Stocks Wavered, Investors Rattled, Yields Spiked
Barry Adams
14 Sep, 2022
New York City
Benchmark indexes on Wall Street struggled around the flat-line a day after major averages recorded this year's worst loss and fell the most in two years.
Producer prices, a measure of wholesale prices, declined 0.1% in August after falling 0.4% in July, the second monthly decline in a row.
Gasoline prices fell 12.7% but services prices rose 0.4%, the fourth monthly increase in a row.
On a yearly basis, producer prices slowed to 8.7% in August from 9.8% in July. the U.S. Bureau of Labor Statistics reported Wednesday.
The S&P 500 index increased 0.3% to 3,942.60 and the Nasdaq Composite index added 0.3% to 11,664.78.
Crude oil price rebounded 2% and reached a one-week high nearing $89 a barrel.
Crude oil prices advanced $1.20 to $88.54 a barrel and natural gas increased 47 cents to $8.73 a thermal unit.
The yield on 2-year Treasury notes increased to 3.80%, 10-year notes edged up to 3.42% and 30-year bonds eased to 3.50%.
Europe Looks to Intervene Energy Markets
In Europe, market indexes swung between losses and gains as investors focused on faster and larger rate increase outlook in the U.S.
Energy policy was also in focus in the region after President Ursula von der Leyen said that the European Commission is considering intervening in the energy markets including price caps and revenue caps on low-cost electricity producers.
The market interventions are expected to generate
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