AllPennyStocks.com Futures Slid as Treasury Prices Tick Higher
AllPennyStocks.com

Futures Slid as Treasury Prices Tick Higher

October 23,2024 07:17 am EST

Futures Slid as Treasury Prices Tick Higher

Stock futures fell on Wednesday after the S&P 500 posted its first back-to-back loss since early September, while Treasury yields moved higher.

Futures for the Dow Jones Industrials slumped 213 points, or 0.5%, to 42.954.

Futures for the much broader index faltered 14.75 points, or 0.3% to 5,877.75.

Futures for the NASDAQ Composite Index let go of 85.75 points, or 0.4%, to 20,456.25.

Dow member McDonald's fell 6.1% after the U.S. Centers for Disease Control and Prevention said an E. coli outbreak tied to the fast-food giant's Quarter Pounder burgers has resulted in 10 hospitalizations and one death. Starbucks tumbled 5% after the coffee chain issued preliminary quarterly results showing that its sales fell again.

Also weighing on futures was another uptick in rates. The benchmark 10-year Treasury note yield rose 3 basis points to 4.23%, reaching levels not seen since July.

In Japan, the Nikkei 225 slid 0.8% Wednesday, while in Hong Kong, the Hang Seng gained a solid 1.3%.

Oil prices dropped $1.44 to $70.30 U.S. a barrel.

Gold prices gained $3.80 to $2,763.60.

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