The S&P 500 Index ($SPX) (SPY) is down by -0.61% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down by -1.04%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.70%. December E-mini S&P futures (ESZ26) are down -0.66%, and December E-mini Nasdaq futures (NQZ26) are down -0.72%.
Stock indexes are retreating today, as rising crude oil prices push bond yields higher. WTI crude oil is up nearly +1% today as escalating attacks on oil tankers in the Middle East bolster concerns that oil supplies from the region could be disrupted. The increase in crude prices is pushing inflation expectations and bond yields higher, with the 10-year T-note yield up +4 bp to 5.31%.
