Midday Update: Uncertainty Still Has Hold on Market With Traders Nervously Eying FOMC Minutes, Bond Yields

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Stocks once again are oscillating between slim gains and losses ahead of the release of minutes from the last meeting of the Federal Open Markets Committee meeting and the yearly meeting of central bankers in Jackson Hole, Wyo., later in the week. Stocks are also hamstrung by rising Treasury yields, with traders worried the higher financing costs will stifle economic growth and liquidity. The 10-year note is currently trading at yet another 2 year high.

European markets are trading lockstep with their U.S. counterparts with most of the regional indices ending in the red. The dearth of economic news out of the euro-zone also is contributing to the listless tone with little on the EU economic calendar until at least Wednesday.

Crude oil was up $0.24 to $107.70 per barrel. Natural gas was up $0.12 to $3.63 per 1 million BTU. Gold was down $4.00 to $1,367.00 an ounce, while silver was down $0.20 to $23.18 an ounce. Copper was down $0.03 to $3.34 per pound.

Among energy ETFs , the United States Oil Fund was down 0.21% to $38.32 with the United States Natural Gas Fund was up $0.60 to $18.46. Amongst precious-metal funds, the Market Vectors Gold Miners ETF was down 0.95% to 29.67 while SPDR Gold Shares were down 0.44% to $131.99. The iShares Silver Trust was down 0.09% to $22.32%.

Here's where the U.S. markets stand at mid-day:

NYSE Composite Index down 33.47 (-0.35%) to 9,432.12

Dow Jones Industrial Average down 16.43 (-0.11%) to 15,065.04

S&P 500 down 1.70 (-0.10%) to 1,654.13

Nasdaq Composite Index up 14.31 (+0.40%) to 3,617.09

GLOBAL SENTIMENT

Nikkei 225 Index up 0.79%

Hang Seng Index down 0.24%

Shanghai China Composite Index up 0.83%

FTSE 100 Index down 0.53%

CAC 40 down 0.97%

DAX down -0.31%

NYSE SECTOR INDICES

NYSE Energy Sector Index down 0.68%

NYSE Financial Sector Index down 0.73%

NYSE Healthcare Sector Index up 0.36%

UPSIDE MOVERS:

(+) EVAC (+18.11%) Agrees to $1.6-billion buyout offer from Atlas Copco Group.

(+) SUPN (+12.47%) The company's epilepsy drug gets FDA approval

(+) P (+5.95%) Needham & Co. raises price target for the stock to $25

DOWNSIDE MOVERS:

(-) Z (-4.36%) Launches underwritten stock offering of 5 million shares, including 2.5 mln shares sold by the company.

(-) TRLA (-4.00%) RBC downgrades the stock to Sector Perform from Outperform.

(-) GTXI (-63.61%) Clinical trials for prospective lung-cancer drug fails to meet co-primary endpoints



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

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