Rising Oil Prices, Falling Technology Stocks and Reversing Bond Yields Keep Wall Street Unsettled
Oil and Treasury swings hit tech stocks, while Nvidia, Broadcom and Micron led a selloff in chipmakers.
- On Thursday, U.S. stock indexes largely declined as investors navigated volatile energy prices and fluctuating bond yields. The S&P 500 fell 0.5% and the Nasdaq Composite dropped 1.3%, while the Dow Jones Industrial Average edged up 0.1%.
- Brent crude prices spiked above $104 per barrel Thursday, driven by intensifying Middle East tensions and uncertainty surrounding the ongoing conflict with Iran. This energy surge created significant market instability.
- Technology and AI-linked stocks faced heavy selling pressure, with Nvidia sliding 3.1%, Broadcom dropping 4.7%, and Micron Technology falling 4.5%. These declines reflected investor concerns about valuations amid rising borrowing costs.
- Treasury yields experienced sharp intraday volatility, with the 10-year yield hitting 5.35% early Thursday before easing. The U.S. government auctioned $22 billion in 30-year bonds at a high yield of 5.618%, demonstrating continued investor demand.
- Markets now brace for the upcoming third-quarter earnings season, where analysts expect S&P 500 companies to deliver nearly 30% growth in earnings per share. This period will test whether corporate profitability can justify current valuations.
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Rising oil prices, falling technology stocks and reversing bond yields keep Wall Street unsettled - WXXV News 25
By STAN CHOE NEW YORK (AP) — Some sharp reversals kept financial markets unsteady on Thursday, as oil prices rose and U.S. stock indexes finished mixed. The S&P 500 fell 0.5% for a second straight loss after setting its all-time high. The Dow Jones Industrial Average added 51 points, or 0.1%, and the Nasdaq composite fell 1.3% as technology stocks...
The New York Stock Exchange ended in red on Thursday, with a sharp rise in oil prices.
S&P 500, Nasdaq end lower as crude prices jump | Honolulu Star-Advertiser
NEW YORK >> U.S. stocks dipped today as crude prices surged on a spike in Middle East tensions and a cut in U.S. output that stoked inflation and rate-hike fears, while semiconductor stocks slumped.
Rising Oil Prices, Falling Tech Stocks Shake Wall Street
Some harp reverses kept financial markets unsteady on Thursday, as oil prices pink and US stock indexes swung. The S&P 500 fell 36.41 points, gold 0.5%, to 7,765.36 for its second straight loss after setting an all-time high. The Dow Jones Industrial Average rose 51.77...
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