U.S. Stocks Edge Toward Their Records After Oil Prices Ease a Bit
Buyout announcements and strong tech gains offset higher Treasury yields as the S&P 500 and Nasdaq hovered near record levels.
- On Monday, U.S. stocks held relatively steady as the Nasdaq reached all-time intraday highs, though risk sentiment remained cautious amid volatile oil prices and rising Treasury yields.
- Yields on the 10-year U.S. Treasury edged up to 5.30% amid concerns over government finances, while Brent crude fluctuated between $100 and $103 due to ongoing infrastructure disruption risks in the Gulf.
- Strong corporate buyout activity supported the market, led by Schneider Electric's $22.6 billion all-cash acquisition of PTC and C.H. Robinson Worldwide's $5.8 billion deal for RXO Inc.
- Fresh data showed U.S. services sector activity slowed in September, reinforcing market expectations that the Federal Reserve may hold interest rates steady this month, traders now see an 80 percent chance.
- Goldman Sachs analysts expect most companies will "once again surpass consensus earnings estimates this quarter," as technology sector strength continues to drive market performance despite economic headwinds.
30 Articles
30 Articles
The Korea Times
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Rutland Herald
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