On Wednesday, October 24th, U.S. markets closed in red as rising Treasury yields weighed on mega-cap stocks and dampened hopes for significant Federal Reserve rate cuts. Corporate news impacted McDonald’s and Coca-Cola, while 10-year U.S. Treasury yields hit a three-month high.

Economic data shows that U.S. existing home sales fell by 1% in September compared to the previous month, bringing the annualized rate to 3.84 million.

S&P 500 sectors closed lower Wednesday, led by losses in consumer discretionary, tech, and communication services, while real estate and utilities ended higher.

The Dow Jones Industrial Average dipped 0.96% to close at 42,514.95, the S&P 500 slipped 0.92% to 5,797.40, while the Nasdaq Composite fell 1.60% to finish at 18,276.65

Asia Markets Today

Eurozone at 05.45 AM ET

• The European STOXX 50 index was up 0.66%.
• Germany’s DAX gained 0.47%.
• France’s CAC rose 0.66%.
• U.K.’s FTSE 100 index traded higher by 0.64%.
• European stock markets edged higher as investors focused on third-quarter earnings and regional economic data. Investors are closely watching eurozone PMI readings amid concerns about growth, with weak data potentially pushing the ECB toward further rate cuts.

Commodities at 05.45 AM ET

U.S. Futures at 05.45 AM ET

Dow futures were down 0.10%, S&P 500 futures rose 0.42%, and Nasdaq 100 Futures increased 0.76%.

Forex at 05.45 AM ET

The U.S. dollar index slid 0.25% to 104.19, the USD/JPY was down 0.52% to 151.97, and the USD/AUD declined 0.31% to 1.5028.

Photo by Pavel Bobrovskiy via Shutterstock