Stocks move little as uncertainty over Middle East looms
The S&P 500 finished Wednesday flat. Nasdaq 100 advanced 0.2%, while the Russell 2000 declined 0.1%.
The US job openings and labor turnover survey showed that more jobs openings were posted in August than expected. Those looking for the next updates on the job market don’t have to wait long: initial jobless claims are on deck for Thursday morning, while September’s non-farm payrolls report is slated for release on Friday. Treasury yields rose, while the dollar gained.
Oil extended a rally from Tuesday on tensions in the Middle East, though prices were off their highs of the day. The WTI crude for November delivery finished 0.4% higher, while the Brent crude for December rose 0.5%. Gold prices were slightly down.
More than half of the 11 major S&P sectors retreated. The consumer staples and consumer discretionary sector ETFs were both down 0.9%. The energy sector rose in the last hour of trading, finishing the day up 1%.
Humana was the biggest S&P 500 laggard of the day, down 11.8%. Shares of the health insurer fell more than 20% in early trading, after the company disclosed lower ratings for its Medicare Advantage plans.
