US EQUITY OPEN: Stocks lower while yields and dollar climb on strong PMI data
Newsquawk ·
**US EQUITY OPEN: ** Stocks opened lower on Wednesday, with the Russell underperforming while the other major indices see more modest losses and the equal-weight S&P is down 0.3%. Sectors are mixed, with Consumer Discretionary, Utilities and Materials underperforming, while Energy, Health Care and Consumer Staples lead. There is no clear catalyst for the broader weakness, although it coincides with higher oil prices as Iran downplays Tuesday's US/Iran talks. Meanwhile, semiconductors are lower, paring some of the recent Muse-induced gains after OpenAI released Astra-6 and Anthropic released Claude Opus 5.5 on Tuesday. Elsewhere in energy, focus has been on the diesel market after Trump remarked that he is considering a diesel export ban. However, Energy Secretary Wright recently said such a move would not work as it would raise gasoline prices, with the developments also helping support the crude complex. Higher energy prices have coincided with higher yields across the curve, with
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