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Wall Street Drifts as Bond Yields Rise and Oil Prices Swing
The 10-year Treasury yield rose to 4.98% as higher borrowing costs weighed on stocks and oil prices swung, analysts said.
- U.S. stock indexes were mixed on Friday as the 10-year Treasury yield climbed to 4.98% from 4.94% late Thursday, after topping the 5% level earlier this week for the first time since 2023.
- The Federal Reserve raised the federal funds rate earlier this week to combat inflation, which has worsened due to higher oil prices from the war with Iran, with Brent crude reaching nearly $110.
- Elsewhere, European indexes slumped, including 1.2% drops for the CAC 40, while Asian markets like the Kospi and Nikkei gained; Berkshire Hathaway slipped 0.1% after famed investor Warren Buffett announced he is stepping down as chairman.
- Rising yields slow the economy by increasing borrowing costs for the government, homebuyers, and businesses, while officials suggested the Fed may need to hike rates again this year to reach its 2% inflation target.
- This monetary tightening may cause economic pain in the short term and has upset President Donald Trump, who has been calling for lower interest rates, as high inflation continues raising expenses for everyone.
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Wall Street drifts lower as bond yields rise and oil prices swing
Wall Street is drifting lower toward the finish of an up-and-down week, and U.S. stock indexes are mixed as bond yields rise and oil prices swing. The S&P 500 fell 0.3% in afternoon trading on Friday. The Dow Jones Industrial…
Investors are eyeing the prospect of a new global round of monetary policy tightening, against a backdrop of inflation concerns.
Coverage Details
Total News Sources17
Leaning Left2Leaning Right2Center11Last UpdatedBias Distribution74% Center
Bias Distribution
- 74% of the sources are Center
74% Center
13%
C 74%
13%
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