Stock market today: Wall Street falls as the vise tightens from rising yields in the bond market

6%. A weak auction for long-term Treasury bonds drove yields up across the bond market. Yields had already been climbing following a report showing inflation was a touch higher last month than expected. Higher yields can knock down stock prices, all else equal. Oil prices eased after zigzagging through the day.NEW YORK — U.S. stocks are slipping Thursday as the clamps tighten on Wall Street from rising yields in the bond market.

The stock market has largely been taking its cue from the bond market recently, and weak results announced in the afternoon for an auction of 30-year Treasury bonds sent yields of all kinds of Treasurys higher. Higher yields can knock down prices for stocks, all else equal, and slow the economy by making borrowing more expensive.

A second economic report from the morning likewise offered both encouragement and caution for financial markets. It said slightly fewer U.S. workers applied for unemployment benefits last week than expected. On one hand, it indicates a job market with few layoffs, which means strength for the overall economy. But it could also be adding fuel to keep upward pressure on inflation.

The big jump for the 10-year Treasury yield since the summer has pulled mortgage rates to their highest levels since the turn of the millennium, and such moves could slow the economy without requiring more hikes by the Fed. Rising crude oil prices have put extra pressure on inflation since the summer, and they were volatile again Thursday. After jumping early in the day, a barrel of benchmark U.S. crude slipped 58 cents to settle at $82.91. Brent crude, the international standard, rose 18 cents to $86 per barrel.

Delta Air Lines fell 2.3% lower despite reporting stronger profit for the summer than analysts expected. It also said it’s seeing encouraging trends for bookings going into the holiday season.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Stock market today: Wall Street drifts as inflation reports offer few clues on interest ratesNEW YORK (AP) — U.S. stocks are drifting, and yields are climbing following mixed economic reports that offered no slam-dunk clues about where interest rates are heading.
Fuente: SooToday - 🏆 8. / 85 Leer más »

Stock market today: Asian shares rise after eased pressure on bonds pushes Wall Street higherBANGKOK (AP) — Shares advanced Wednesday in Asia, tracking Wall Street gains following an easing of pressure from the bond market. U.S. futures slipped and...
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Birkenstock set for its stock market debut as Wall Street trades in its wingtips for sandalsNEW YORK (AP) — Birkenstock is making its debut on the stock market as Wall Street trades in its wingtips for sandals for a day. The 249-year-old German...
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »