Published • loading... • Updated
Wall Street Drifts Lower as Bond Yields Rise and Oil Prices Swing
The 10-year Treasury yield rose to 4.98% as higher borrowing costs weighed on stocks and oil prices swung, analysts said.
- U.S. stock indexes were mixed on Friday as the 10-year Treasury yield climbed to 4.98% from 4.94% late Thursday, having topped 5% earlier this week for the first time since 2023.
- The Federal Reserve raised the federal funds rate earlier this week to combat inflation, worsened by higher oil prices from the war with Iran; Brent crude reached nearly $110 early this week.
- Elsewhere, European indexes slumped, including 1.2% drops for the CAC 40, while Asian markets like the Kospi and Nikkei gained; Berkshire Hathaway slipped 0.1% after Warren Buffett announced stepping down as chairman.
- Rising yields slow the economy by increasing borrowing costs for the government, homebuyers, and businesses; officials suggested the Fed may need to hike rates again this year to reach its 2% inflation target.
- This monetary tightening may cause short-term economic pain and has upset President Donald Trump, who has been calling for lower interest rates, as high inflation continues raising expenses for everyone.
Insights by Ground AI
14 Articles
14 Articles
union-bulletin.com+3 Reposted by 3 other sources
Wall Street drifts lower as bond yields rise and oil prices swing
Wall Street is drifting lower toward the finish of an up-and-down week, and U.S. stock indexes are mixed as bond yields rise and oil prices swing. The S&P 500 fell 0.3% in afternoon trading on Friday. The Dow Jones Industrial…
Investors are eyeing the prospect of a new global round of monetary policy tightening, against a backdrop of inflation concerns.
Coverage Details
Total News Sources14
Leaning Left2Leaning Right1Center9Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
L 17%
C 75%
Factuality
To view factuality data please Upgrade to Premium
