Wall St mixed as benchmark Treasury yields reach 5%, oil takes a pause
NEW YORK — Wall Street was mixed on Friday as benchmark U.S. Treasury yields topped 5 percent, and crude prices reversed earlier gains but remained above $100 per barrel, keeping inflation worries front and center. Investors approached the end of a week that was essentially split in two: first, restless anticipation in the days before the U.S. Federal Reserve's widely expected interest rate hike,…
Wall Street experienced a mixed day on Friday as benchmark U.S. Treasury yields surpassed the 5% mark, while crude prices experienced a brief pause following earlier increases and remained above $100 per barrel, keeping inflation worries at the forefront. Investors were concluding a week that was divided into two parts: the anticipation leading up to the Federal Reserve's anticipated interest rate hike, followed by the aftermath of that decision.
A surge in semiconductor stocks helped the Nasdaq avoid the broader market selloff, which caused the S&P 500 and Dow to drop marginally. The S&P 500 is projected to end the week with a weekly loss, while the tech-focused Nasdaq is poised to end nominally higher than its close from the previous Friday. The Dow Jones Industrial Average is on track for its greatest weekly percentage decline since March.
Despite inflation concerns, crude prices leveled off after Iran agreed to Saudi Arabia's request to restrict Houthi rebels from attacking Saudi oil infrastructure. The rise in oil prices has driven diesel costs to record highs.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Wall St slips as higher Treasury yields weigh on sentiment investing.com
- Wall St mixed as benchmark Treasury yields reach 5%, oil takes a pause koreatimes.co.kr
