[Chart courtesy of MarketWatch.com] Stocks started October on the back foot as surging Treasury yields pressured the broader market, despite blockbuster earnings from Micron. The 10-year yield briefly climbed above 5.34%, touching levels not seen in roughly 24 years, while the 30-year pushed above 5.66%. That’s becoming the market’s elephant in the room. Stocks remain near record highs, but with …
Cooling Inflation Meets Red-Hot Yields: What Gives Next?
[Chart courtesy of MarketWatch.com] Stocks got an early lift as September wrapped up, helped by a friendlier-than-expected inflation report. Both headline and core PCE cooled, giving traders some hope that the Fed may not need quite as heavy a hand going forward. But the bond market wasn’t exactly celebrating. The 10-year Treasury yield pushed toward 5.3%, keeping pressure on equities …
Stocks Stumble, Gold Bounces, And October Waits In The Wings
[Chart courtesy of MarketWatch.com] Bond yields were once again calling the tune today, keeping the major indexes on the defensive after yesterday’s losing session. The 10-year hovered near levels not seen since 2007, while the 30-year remained near multi-decade highs, giving investors plenty to chew on. Some relief came from oil, which dropped nearly 4% as Middle East tensions showed …
The Indexes Wobble As Warning Signs Pile Up
[Chart courtesy of MarketWatch.com] Stocks started the week under pressure as higher oil prices and another surge in bond yields gave the bulls a rude Monday-morning wake-up call. Brent crude jumped more than 2% to around $107 a barrel and WTI moved above $94 after President Trump rejected Iran’s ceasefire conditions. Oil later backed off its intraday highs, but the …
Stocks Shrug Off Surging Yields, But For How Long?
[Chart courtesy of MarketWatch.com] Stocks stumbled again as Treasury yields continued their relentless climb, fueled by expectations that the Fed may have another rate hike in store. The 30-year yield touched 5.446%, while the 10-year surged to 5.22%. A pullback in Oracle didn’t do the tech sector any favors either. Adding fuel to the inflation fire, oil moved sharply higher, …
Oil Cools, Metals Rally, And Wall Street Waits For The Next Headline
[Chart courtesy of MarketWatch.com] The Nasdaq pushed to another intraday record today, but the broader market mostly spun its wheels. Oil continued to retreat on reports that Iran may reopen the Strait of Hormuz within seven days, while Saudi Arabia is reportedly preparing to restart its East-West pipeline. Neither development is a done deal, but it was enough to take …