Add Category
Viva Energy was down 19 cents (6.6 per cent) at $2.77 as it traded without the rights to its 14-cent dividend for the first time.
Seven West Media was trading around a percentage point lower after signing a $4.5 billion broadcast deal with the AFL on Tuesday.
Loading
Stocks closed lower on Wall Street on Tuesday, extending the market’s losses from last week. US markets were closed on Monday for the Labor Day holiday.
The S&P 500 fell 0.4 per cent after bouncing between a gain of 0.5 per cent and a loss of 1 per cent. The Dow Jones Industrial Average fell 0.6 per cent and the Nasdaq lost 0.7 per cent.
The major indexes are coming off their third losing week in a row, part of a late-summer slump that erased much of the benchmark S&P 500’s gains from July and early August.
Wall Street is grappling with worries about a brewing energy crisis in Europe and the implications it could have for the global economy and corporate profits, given that companies in the S&P 500 get half their revenue from abroad, said Michael Antonelli, market strategist at Baird.
“Each day that goes by that we have to talk about an energy crisis or a gas shortage or out of control electrical bills in Europe, the less the market can make constructive headway,” he said.
Wall Street is lower in late trade.Credit:AP
Bed Bath & Beyond fell 18.4 per cent following the death of its chief financial officer. The company has been suffering from a prolonged sales slump and executive turnover.
The company wanting to take Trump Media public, Digital World Acquisition, plunged 11.4 per cent following reports it didn’t receive enough shareholder support for an extension to close the deal.
Loading
Trading began Tuesday at the New York Stock Exchange after Ukrainian President Volodymyr Zelenskyy virtually rang the opening bell. He gave a pitch for a program to attract large-scale investments to his country as it continues to battle Russian forces.
Bond yields rose. The yield on the 10-year Treasury, which influences interest rates on mortgages and other loans, rose to 3.34 per cent from 3.19 per cent late on Thursday. The two-year Treasury yield, which tends to track expectations for Fed action, rose to 3.51 per cent from 3.39 per cent.
with AP