Good afternoon and welcome to Markets Desk.
Equity markets are under modest pressure today as rising crude oil prices weigh on sentiment. The S and P five hundred is off by roughly a third of a percent, the Dow down nearly half a percent, and the Nasdaq one hundred leading losses, down just over half a percent. Energy costs feeding through to margins is the story here.
That crude move is also rippling into the agricultural complex. Cotton futures are bouncing higher in Thursday morning trade, up as much as seventy-five points on some contracts, following crude's gain of over two dollars a barrel in the prior session. A stronger dollar is adding some friction, but the commodity is holding its bid.
Meanwhile, in the credit markets, the Janus Henderson triple-A CLO ETF is drawing attention after pulling in roughly three hundred seventy-five million dollars in fresh inflows over the past week, a one point two percent increase in shares outstanding. That kind of move into high-quality, floating-rate structured credit signals investors are still seeking yield with a defensive tilt as rate uncertainty lingers.
That's the tape. Markets Desk, signing off the floor.
