Global stocks are mixed, the dollar hovers near a two-month high, oil prices hold steady and Twitter sinks. Here are four things to know in the market on Thursday, October 6.
1. Global Stocks Are Mixed
Global stocks are mixed on Thursday, as investors remain focused on upcoming U.S. data.
Markets in the U.K. and Europe were mostly lower in mid-morning trade, with oil prices in focus.
Shares in Asia closed mostly higher on stronger U.S. economic data.
Stock futures in the U.S. pointed to a broadly lower opening, with investors focused on job and payroll reports.
2. The Dollar Climbs to a Near Two-Month High
The greenback hovered near a two-month high against other major currencies amid increased speculation that the Federal Reserve will raise rates at its next meeting in December.
The dollar was up 0.2% against the yen, trading at 103.66 after reaching a high of 103.74. The euro eased against the greenback, trading at 1.1182.
The dollar index was at 96.33 in morning trade.
3. Oil Prices Hold Steady
Oil prices fluctuated between gains and losses, but still remained close to a four-month high. Oil was supported by data that showed U.S. crude supplies fell for the fifth straight week.
The market is awaiting the details of OPEC’s plan to reduce output.
Brent gained 15 cents, trading at $52.01 per barrel, while U.S. crude added 5 cents to trade at $49.88 a barrel.
4. Twitter Sinks
Twitter plunged 14% just ahead of the opening bell on reports that Alphabet (GOOGL) and Apple (AAPL) were not likely to buy the struggling social media network.
Sources also say that Walt Disney (DIS) is not considering buying the platform.
Previous reports pegged Salesforce (CRM), Disney, Alphabet and Apple as possible contenders for a takeover bid.
Twitter stock was down nearly 18% in early afternoon trade.
