US Stocks Surge as Treasury Yields and Oil Prices Drop Amid Interest Rate Rise
US stocks closed higher on Friday, September 25, as Treasury yields and crude oil prices dropped. The Dow Jones Industrial Average rose by 0.9%, while the S&P 500 added 0.5% and the Nasdaq Composite climbed 0.4%. Eight of eleven sectors saw gains, with information technology leading the way.
Bond yields retreated across the board during the session, with the 2-year Treasury yield slipping 8 basis points to 4.84%, the 10-year yield decreasing 5 basis points to 5.15%, and the 30-year yield falling 1 basis point to 5.49%. Financial experts noted that rising interest rates are affecting equity valuations.
Market analysts highlighted contrasting trends across asset classes, with Alex King of Cestrian Capital Research commenting, 'For this week, yields exploded, gold dumped, crypto inched up, the Nasdaq fair mooned, and the S&P just kept on truckin’. Make that make sense. Our view remains - equities, bonds, gold and crypto all higher into year end.'