Trading was muted this morning, according to the Associated Press. An extended rout in energy prices hinted at falling demand as the global economy slows.
Futures for the S&P 500 ticked up 0.01% to 4,396.25, and the Dow futures edged 0.04% higher to 34,230.
Crude prices are hitting three-month lows, and benchmark U.S. crude prices have fallen in seven of the past 10 days. Prices inched lower again this morning to $76.66 per barrel. The price for a barrel of oil is down nearly 5% this week, and it’s down more than 7% over the past 30 days.
Natural gas is slumping as well, down nearly 10% this week. Crude and natural gas are both in negative territory for the year. Brent crude, the international standard, shed 95 cents to $80.66 per barrel.
Fed Chief Jerome Powell is opening a conference in Washington, D.C., early today where a number of his colleagues at the Federal Reserve will make presentations including Gustavo Suarez, Steve Sharpe, Michael Gibson, and Andreas Lehnert. John C. Williams, president of the Federal Reserve Bank of New York, will give the keynote speech.
In currency trading, the U.S. dollar edged up to 150.77 Japanese yen from 150.37 yen.
