“What we've seen is that September is living up to its reputation for being a challenging month for the markets, said Edward Jones senior investment strategist Angelo Kourkafas.
September is on track to be Wall Street’s worst month of 2023 as it tries to absorb a recent leap by Treasury yields which have reached heights unseen in more than a decade. Other factors contributing to a pullback include rising oil prices, as crude rallied further above US$90 per barrel on Wednesday.In recent days, a number of analysts have revised their forecasts with the view that triple-digit oil prices may now be in the cards for this fall amid strong global demand.
The November natural gas contract was up five cents at US$2.90 per mm/BTU, the December gold contract was down US$28.90 at US$1,890.90 an ounce and the December copper contract was down a penny at US$3.64 a pound.
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