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 surged past the 5% mark, while crude oil prices temporarily retreated after a brief rally but remained above $100 per barrel, highlighting ongoing inflation concerns. The market's two-day trading pattern emerged, with anticipation building in the days leading up to the Federal Reserve's anticipated interest rate hike, followed by the impact of that decision.
The Nasdaq managed to outperform the broader market, helping the index avoid a general sell-off, while the S&P 500 and Dow Jones slipped slightly. The S&P 500 is projected to conclude the week with a weekly decline, whereas the Nasdaq is expected to end nominally higher than last Friday's close, despite being off from its daily high.
Blue-chip Dow Jones futures are on track for their largest weekly percentage drop since March. Despite the oil price surge, sending diesel to record highs, inflation worries persisted as China, at Saudi Arabia's behest, asked Iran to curb Houthi attacks on its oil infrastructure.
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
