U.S. equities finished mixed and very near the flat line, with another dose of softer-than-expected Eurozone manufacturing data coming up against some relatively positive domestic business activity reports. U.S.-China trade uncertainty was also in focus after talks were cut short last week. Treasury yields fell and the U.S. dollar was slightly higher, while gold rose and crude oil prices nudged higher. Equity news is very light, with Exact Sciences Corporation rising after the U.S. Food and Drug Administration (FDA) expanded approval for the use of its at-home colon cancer screening test, Cologuard.
The Dow Jones Industrial Average (DJIA) rose 15 points (0.1%) to 26,950, the S&P 500 Index was nearly unchanged at 2,992 and the Nasdaq Composite declined 5 points (0.1%) to 8,112. In moderate volume, 793 million shares were traded on the NYSE and 1.7 billion shares changed hands on the Nasdaq. WTI crude oil moved $0.55 higher to $58.09 per barrel and wholesale gasoline gained $0.01 to $1.66 per gallon. Elsewhere, the Bloomberg gold spot price rose $7.60 to $1,524.50 per ounce, and the Dollar Index—a comparison of the U.S. dollar to six major world currencies—was up 0.1% at 98.60.
The preliminary Markit U.S. Manufacturing PMI Index for September rose to 51.0 from August’s unrevised 50.3 figure, and versus the Bloomberg expectation of a slight increase to 50.4. The preliminary Markit U.S. Services PMI Index showed growth modestly accelerated for the key U.S. sector this month, ticking higher to 50.9 from August’s 50.7 figure, and versus forecasts of a rise to 51.4. A reading of 50 for both indexes is the demarcation point between expansion and contraction.
Treasuries were higher, as the yields on the 2-year and 10-year notes, along with the 30-year bond, declined 4 basis points (bps) to 1.66%, 1.71% and 2.16%, respectively.
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