Bond Yields Rise as Oil Prices Swing, Weighing on Wall Street

Wall Street is experiencing an up-and-down week, with stocks mostly lower as bond yields rise and oil prices fluctuate.

The S&P 500 rose 0.1% in afternoon trading, but the Dow Jones Industrial Average was down 61 points, or 0.2%, at 3:06 p.m. Eastern time.

The majority of stocks on Wall Street fell due to rising bond yields and higher oil prices.

The yield on the 10-year Treasury climbed to 5.00% from 4.94% late Thursday after topping 5% for the first time since 2023, which slows down the overall economy by making borrowing more expensive.

Rising oil prices have caused inflation to worsen, with gasoline prices reaching $4.47 per gallon and diesel prices at a record $6.45 per gallon.