Stocks hoisted themselves up into the green on Tuesday after the first presidential debate.
But it wasn’t rosy across the board, with the energy sector getting whacked in early trade.
First up, the scoreboard:
- Dow: 18,218.92, +124.09, (+0.69%)
- S&P 500: 2,158.44, +12.44, (+0.58%)
- Nasdaq: 5,303.55, +46.10, (+0.88%)
- WTI Crude: $44.53, -$1.40, (-3.05%)
- 1o-year yield: 1.560%, -0.029
- The Mexican peso was “the seemingly biggest winner of the debate,” according to Marc Chandler, the global head of currency strategy at Brown Brothers Harriman. The currency was up by 2.3% at 19.4288 against the dollar in the afternoon.
- Deutsche Bank shares cratered to a record low. The German bank, which is also the country’s biggest lender, could be on the hook to pay up to $14 billion to US authorities in legal costs and settlements over an investigation into sales of mortgage-backed securities.
- The most active part of the US economy is sending “mixed signals.” Markit Economics reported a jump in service-sector activity during September, although new orders and hiring slowed.
- Oil prices plunged as expectations for any OPEC deal started to sputter. Prices for Brent crude oil, the international benchmark, were down by 3.5% at around $46.26 per barrel around noon ET following earlier comments from Iran and Saudi Arabia’s energy ministers.
- The surge in home prices is slowing down. Home prices in July fell on a month-to-month basis in 20 major US cities, according to the S&P CoreLogic Case-Shiller index. The 20-city composite fell 0.01%, just under the forecast for a flat reading during the month, according to Bloomberg.
- Consumer confidence surged to a post-recession high. The latest reading from the Conference Board came in at 104.1 for September, up from the prior month’s 101.8, and above the expected 99.0.