Commodities
US Stocks Bounce Amid Bond Market Pressure, Oil Price Volatility
The US stock market is experiencing mixed results as the week comes to a close. The S&P 500 was virtually unchanged in early trading, while the Dow Jones Industrial Average was down 139 points (0.3%) and the Nasdaq composite was 0.3% higher.
The bond market is exerting pressure on stocks, with the yield on the 10-year Treasury climbing to 4.98% from 4.94% late Thursday. Higher yields slow economic growth by making borrowing more expensive, and tend to undercut stock prices.
Oil prices are also contributing to inflation concerns. The price for a barrel of Brent crude briefly dropped below $102 in overnight trading before pulling back to $104.07 (down 0.3% from the day before).