Investing.com -- Stocks extended their losses into the afternoon on Wednesday as rising bond yields showed investors were taking some risk off the table.pierced 4.9% for the first time since 2007, and was around 4.89% in the late session. Tech stocks dragged the Nasdaq down more than 1.5%.
This week features a wave of corporate earnings, but investors are also paying attention to the escalating conflict in the Middle East and how it could affect markets. Oil was rising again on Wednesday, as was gold. Federal Reserve Chair Jerome Powell is scheduled to appear Thursday morning at the Economic Club of New York, and investors are hoping to hear hints as to the direction of monetary policy heading into the last few months of the year.
Fed policy makers have been signaling that the central bank may pause its rate increases again in November, as rising yields have done some of their job in cooling the economy by reining in credit. But futures traders still see a possibility that there could be another rate increase in December to round out the year.) is expected to report earnings per share of 32 cents on revenue of $13.5 billion. Analysts want to hear about travel demand and its outlook for fuel costs for the fourth quarter.
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