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The API crude oil production in the United States in the week ending September 12 was -134,000 barrels/day, compared with 110,000 barrels/day in the previous week.API finished oil imports in the United States for the week ending September 12 were -234,000 barrels per day, compared with 407,000 barrels per day in the previous week.API crude oil imports in the United States for the week ending September 12 were -347,000 barrels, compared with 212,000 barrels in the previous week.API heating oil inventories in the United States for the week ending September 12 were 469,000 barrels, compared with -55,000 barrels in the previous week.API Cushing crude oil inventories in the United States for the week ending September 12 were -379,000 barrels, compared with -332,000 barrels in the previous week.

S&P 500 Pulls Back As Traders Stay Focused On Rising Treasury Yields

Cory Russell

Oct 21, 2022 15:44

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S&P 500 Continues to Face Pressure

As traders concentrated on increasing Treasury rates, the S&P 500 encountered resistance around 3730 and fell back into the 3650 level. While the yield on 2-year Treasuries climbed beyond the 4.60% mark, the yield on 10-year Treasuries touched fresh highs at 4.25%. These quantities were last seen in 2007.


It should come as no surprise that traders are anxious because they believe that the economy will be too strained by high yields.


According to the Existing Home Sales data, September saw a 1.5% month-over-month fall in Existing Home Sales. In the next months, the housing market will continue to be under pressure from rising interest rates.


As traders responded to the earnings report that was issued after the market closed yesterday, Tesla was among the worst losses today.


After exceeding analyst sales and profit expectations, AT&T saw a 7% increase. Additionally, AT&T increased its full-year 2022 projection, which boosted the value of the shares.


The majority of market categories have been under pressure today, but despite the decline in oil prices, energy companies like Exxon Mobil and Chevron have managed to hold their gains.


The railroad corporation CSX Corporation presented its quarterly report after the market close, outperforming analyst expectations for both profits and sales. The news may provide the market some support since it demonstrates that despite concerns about a recession, economic activity is still strong. In the session after the market close, the stock rose over the $28.50 barrier.


Although Snap is not a component of the S&P 500, its earnings announcement may significantly affect the tone of the tech market. Snap announced sales of $1.13 billion, adjusted profits of $0.08 per share, and revenue that fell short of analyst expectations. Despite the company's announcement of a $500 million repurchase, the shares fell by 24% in the post-market session as a result of the market's unhappiness.

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