Wall Street Dips as US Treasury Yields and Oil Rebound
Higher oil and Treasury yields revived inflation worries and pushed the S&P 500 and Nasdaq off recent record highs, traders said.
- On Thursday, October 8, U.S. stock indexes diverged as the Dow Jones Industrial Average rose 0.1% while the S&P 500 fell 0.5% and the Nasdaq dropped 1.3% amid volatile trading.
- Brent crude prices climbed above $104 per barrel, driven by ongoing conflict with Iran that intensified uncertainty about global energy supplies and fueled broader market instability throughout the session.
- Higher oil prices pushed 10-year Treasury yields above 5.35% early Thursday, while technology stocks including Nvidia, Broadcom, and Micron fell 3.1%, 4.7%, and 4.5% respectively, pressuring the Nasdaq.
- Despite equity pressures, bond market stability emerged late Thursday as investors capitalized on higher yields, with Tony Miano, global investment strategy analyst at Wells Fargo Investment Institute, noting yields are creating demand.
- President Donald Trump confirmed the U.S. military will not attack Iran before the November elections, providing some clarity on geopolitical tensions that have driven oil and market volatility throughout the week.
265 Articles
265 Articles
Yesterday, US statistics reported annual inflation of 3.7% - 0.1% higher than expected. The markets reacted like a dying man, due to the fear of a possible interest rate hike. Practically everything collapsed - from technology companies to the prices of precious metals and related businesses. Only the prices of oil and oil and gas companies remained slightly affected. Today the situation is especially interesting. Gold is jumping back to the lev…
Hot US CPI Data Sends Dollar Surging While Gold And Yen Face Heavy Pressure
A stronger-than-expected US Consumer Price Index report sent the dollar index (DXY) surging to a multi-month high, rattling currency and commodities markets across the board. US CPI rose 0.4% month-over-month and 3.5% year-over-year, exceeding economist forecasts of 0.3% and 3.4% respectively, signaling that inflation remains stubbornly elevated. Core CPI, which strips out food and energy […]
Gold and silver prices have suddenly fallen sharply, as the United States has shared inflation data for September. According to this data, US inflation increased in September.
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