Stock Market Update
13-Dec-24 11:00 ET
WTI crude oil futures trade above $70/bbl after IEA growth forecast
Dow -13.96
at 43900.16,
Nasdaq -66.65
at 19836.19,
S&P -11.15
at 6040.10
[BRIEFING.COM] The major indices turned lower as yields continue to rise. The S&P 500 is about ten points lower than yesterday and the 10-yr yield is at 4.37%.
WTI crude oil futures are 1.1% higher today to $70.77/bbl after the IEA said world oil demand growth is set to accelerate from 840 kb/d in 2024 to 1.1 mb/d next year, lifting consumption to 103.9 mb/d in 2025. WTI crude oil futures have struggled to hold above $70.00/bbl since the start of September.
Other energy-related commodities trading lower, weighing down the S&P 500 energy sector (-0.6%). Natural gas futures are 4.1% lower at $3.31/mmbtu.
