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US Equities Markets End Lower Thursday Amid Middle East Worries
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US Equities Markets End Lower Thursday Amid Middle East Worries
Oct 3, 2024 4:32 PM

04:05 PM EDT, 10/03/2024 (MT Newswires) -- US benchmark equity indexes ended lower Thursday amid escalating geopolitical tensions in the Middle East.

* Two surveys painted a mixed picture of the US services sector for September, with the Institute for Supply Management's data showing that activity expanded more than expected, while S&P Global ( SPGI ) indicated a deceleration in growth.

"The ISM services index surprised to the upside in September and is yet another signal that the economy is still expanding at a brisk pace," Oxford Economics said.

* US-based employers cut 72,821 jobs last month, down 4% from August and up 53% from September 2023, according to Challenger Gray & Christmas.

* November West Texas Intermediate crude oil closed up $3.61 to settle at $73.71 per barrel, while December Brent crude, the global benchmark, was last seen up $3.37 to $77.27, climbing for a third-straight day after U.S. President Joe Biden said the United States and Israel are discussing an attack on Iran's oil sector to retaliate for this week's attack on Israel.

* Vistra ( VST ) shares were up 5.7% after RBC raised its price target on the company's stock to $141 from $105 while maintaining its outperform rating.

* Constellation Brands' ( STZ ) fiscal Q2 earnings beat market estimates, while revenue fell short of Wall Street expectations as the company booked a $2.25 billion noncash goodwill impairment loss in its wine and spirits business. Its shares were down 4.7%.

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