Here’s your round-up of quick-hit news for Wednesday!
- After trading concluded overnight on Wednesday, Chinese markets close for the country’s “Victory Day” holiday. They will reopen on Monday, giving weary traders a chance to catch their breath after 10 weeks of losses.
- After opening lower, crude oil prices gain on Wednesday morning, though the world’s most traded commodity is unlikely to reverse its current downtrend. WTI crude traded above $45/bbl while Brent crude surged back above $50/bbl.
- Sales of gold coins from the U.S. Mint jumped more than 300% year-over-year in August, while silver bullion sales from the mint doubled compared to the same period last year.
- The New York Stock Exchange once again (4 out of 5 trading days) invokes the obscure Rule 48 on Tuesday, a volatility mitigation measure that drops the requirements for market makers to announce price indications (whether they are buying or selling) before markets open.
- U.S. stock indices open steadily higher this morning, looking to pare the previous session’s losses that nearly totaled 3%. September is historically a poor performing month for equities.