US Stocks: S&P 500, Nasdaq Retreat From Records as Oil and Treasury Yields Rebound
Treasury yields climbed to 2002 highs, and the 10-year note reached 5.365%, pressuring rate-sensitive stocks and leaving futures little changed, FactSet said.
- On Wednesday, the S&P 500 retreated from its record high, while the Dow Jones Industrial Average fell 0.7% and the Nasdaq Composite slid 0.2% as Treasury yields breached fresh highs.
- Yields on the 10-year Treasury hit 5.365%, its highest level since April 2002, while the 30-year yield climbed to 5.732%, curbing investor appetite for equities in interest-sensitive sectors like Industrials.
- Levi Strauss shares dipped 2% in extended trading after lowering revenue guidance, though FactSet projects a blended earnings growth rate of roughly 30% for the third quarter.
- Senior wealth advisor Courtney Garcia at Payne Capital Management told CNBC's "Closing Bell" that strong earnings could sustain the rally "despite the fact that rates are higher," adding it is "not going to derail the market."
- On Thursday, investors will await PepsiCo results before market open, while traders will also watch for weekly jobless claims data to gauge economic resilience amid higher borrowing costs.
26 Articles
26 Articles
S&P 500 (SPY), Dow Jones Industrial Average (DJIA), And Nasdaq (QQQ) Slide As Bond Yields Hit 24-Year High
Stocks closed lower across the board on Wednesday as surging Treasury yields and growing expectations of further Federal Reserve rate hikes pressured equity markets. The S&P 500 Index ($SPX) (SPY) declined by 0.22% on the session, while the Dow Jones Industrial Average ($DOWI) (DIA) shed 0.66%, marking the steepest loss among the major indexes. The […]
US stocks: US markets fall as higher yields and oil prices flag inflation risk
US stocks fell as crude oil prices surged and Treasury yields remained high, raising inflation concerns. Major companies like Amazon, Tesla, and Nvidia experienced losses, contributing to a broader decline in the technology sector. Investors are now focused on upcoming third-quarter earnings reports, particularly from financial institutions. The Federal Reserve is expected to keep interest rates unchanged in October, while considering future hik…
Developments in the oil and bond markets dominate the markets. Prices and returns are rising there. There are still important impulses for the file markets.
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