The S&P 500 Index ($SPX) (SPY) today is down by -0.35%, the Dow Jones Industrials Index ($DOWI) (DIA) is down by -0.40%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -0.47%.
Stocks today are mildly lower, pressured by higher bond yields. The 10-year T-note yield climbed to a 2-month high today on negative carryover from last Friday when the stronger-than-expected US Sep payroll report undercut chances for a 50 bp rate cut by the Fed at next month’s FOMC meeting. Strength in energy stocks is limiting the downside in the broader market, with WTI crude oil (CLX24) up more than +1% at a 7-week high.
