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Stock market today: S&P 500 closes lower as spike in Treasury yields weigh

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Stock market today: S&P 500 closes lower as spike in Treasury yields weigh

Investing.com-- The S&P 500 slipped lower Monday, pressured by a rise in Treasury yields after last week's blowout jobs report dented hopes for a jumbo Fed rate cut next month.

A slew of Federal Reserve officials are set to speak in the coming days, offering monetary policy clues following the strong September jobs report. "It looks like it is still a strong labor market...it's really good news as we want to keep a strong labor market," Neel Kashkari said, referencing the blowout September jobs report.due Wednesday are likely to provide further clues on rate cuts. The Fed had cut rates by 50 bps during the meeting and marked the start of an easing cycle.inflation data for September is also due later this week, and is likely to factor into expectations for the path of U.S. interest rates.

 

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