The 10-year Treasury yield continues to trade around the 5% level
Stocks finished the day mostly lower, undone once more by elevated treasury yields. As investors a busy week of tech earnings, the 10-year Treasury yield continues to test the 5% level. Despite brief forays into positive territory earlier in the afternoon, the Dow finished lower for the fourth-straight day, while the S&P 500 slid for the fifth-straight session.
Elsewhere, a resilient tech sector helped the Nasdaq eke out a win and snap a four-day skid. Keep an eye on the VIX this week, which just snapped a five-day win streak but still closed above 20.
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5 Things to Know Today
- House Republicans are saying sayonara to Rep. Jim Jordan, after he lost his third bid to become speaker of the House of Representatives. (CNBC)
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Commodities Pull Back
Oil futures slipped today, as investors continued to monitor diplomatic efforts around the Israel-Hamas war. For the session, crude for November delivery fell $1.39, or 1.6%, to settle at $86.69 per barrel.
Gold futures also fell Monday, with December-dated gold losing $8.10 to settle at $1,986.30 an ounce Friday.