MARKETS: YEAR-TO-DATE Sept 5, 2022

 

MARKETS: YEAR-TO-DATE

Nasdaq 11,630.86 -25.66%

S&P 3,924.26 -17.66%

Dow 31,318.44 -13.81%

10-Year 3.199% +168.5 bps

Bitcoin $19,746.47 -57.36%

Oil $89.20 +18.61%

*Stock data as of market close, cryptocurrency data as of 8:00pm ET. Here's what these numbers mean.

Markets: US stock markets were closed yesterday so investors could spend an extra day at their beach houses, but OPEC still managed to keep energy traders glued to their phones. The oil producing alliance and its partners (a group known as OPEC+) made the surprise decision to cut production targets by about 100,000 barrels per day come October. They aren’t happy that crude prices have been dropping, but consumers might be, since US gas prices may soon fall below $3, analysts say.