S&P 500 Rebounds as 10-Year Treasury Yield Retreats From 2002 High
Updated
Updated · Bloomberg · Oct 1
S&P 500 Rebounds as 10-Year Treasury Yield Retreats From 2002 High
3 articles · Updated · Bloomberg · Oct 1
Summary
Wall Street stocks rose after a Treasury rally eased the bond selloff, with the S&P 500 wiping out an earlier decline by midday.
10-year Treasury yields pulled back from their highest level since 2002, giving equities relief even as investors weighed renewed inflation pressure.
Factory data had initially knocked stocks lower by showing a jump in a raw-material prices gauge, reinforcing concerns that price pressures are still building.
Oil prices climbed on geopolitical risk, with a US official saying the Pentagon may soon send another aircraft carrier and 10,000 troops to the Middle East.