The chart shows weakness and bears took control after the OIL data. On the other hand the VIX trader lower.
The S&P 500 ended flat on Wednesday, cutting its gains late in the session as commodity-related shares fell, while comments by Federal Reserve Chair Janet Yellen offered a mixed view on the rate outlook.
Technology and healthcare shares that had sold off sharply in recent sessions led sector gains. The S&P technology index was up 0.36 percent at 638.46 while healthcare was up 0.91 percent at 745.62. Shares of Microsoft were up 0.87 percent. Facebook rose 1.47 percent while Alphabet gained 0.83 percent. Disney dropped 3.76 percent after reporting lower profit at its ESPN sports network. The Dow was down 0.62 percent, the S&P 500 edged 0.02 percent lower and the Nasdaq added 0.35 percent.
Treasury yields ended lower after the government sold $23 billion in 10-year notes to solid demand, showing that the dramatic drop in yields this year has not reduced investor appetite for the safehaven bonds. Fed Chair Janet Yellen said the U.S. central bank has plenty of flexibility to adjust monetary policy if needed, which helped Treasury auction the 10-year notes at a high yield of 1.73 percent at a bid to cover ratio of 2.56. 30- year bonds were last up 1-2/32 to yield 2.51 percent. 5-year notes were up 3/32 to yield 1.13 percent.
The dollar fell against the yen as investors packed into the safe-haven Japanese currency, backing away from earlier optimism that the Federal Reserve would continue to raise interest rates. The dollar fell 1.60 percent against the yen at 113.26 yen. The euro reversed its slide against the dollar, last trading 0.03 percent higher at $1.1294. The dollar index edged 0.30 percent lower at 95.79. U.S. crude prices fell after stockpiles at the main U.S. delivery point hit record highs, while Brent rose for the first time in five days after Russia suggested oil producers cut output by a million barrels each. U.S. crude was down 1.97 percent at $27.39 a barrel.
Brent rose 2.01 percent to $30.93 a barrel. Gold stabilised after U.S. Federal Reserve Chair Janet Yellen said that only “gradual” adjustments to monetary policy were likely. Spot gold recovered earlier losses to rise 0.67 percent to $1,196.41 an ounce. Gold futures edged 0.14 percent lower at $1196.90 an ounce.