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US Futures Dragged Lower as Oil Prices and Treasury Yields Climb
- On Thursday, October 1, US stocks recovered from early losses to close slightly higher as the S&P 500 bounced from a two-week low and US Treasury yields retreated from multi-decade highs.
- Treasury yields had previously extended gains to hit 24-year highs after the Institute for Supply Management reported manufacturing PMI dipped to 54.5 in September from 54.6 in August, revealing an unexpected jump in input prices.
- Fed Vice-Chair Philip Jefferson suggested the central bank may exercise patience before hiking rates again, prompting the two-year Treasury yield to drop about 10 basis points in its biggest daily decline since August 2025.
- Micron Technology closed 3% higher as a better-than-expected revenue forecast and $32 billion in customer commitments under supply agreements reinforced confidence in the artificial intelligence trade.
- While the labor market remains on solid footing ahead of Friday's payrolls report, Minneapolis Federal Reserve President Neel Kashkari noted inflation measures are still elevated at around a 3% rate, expecting additional rate increases will be needed into 2027.
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(New York = Yonhap News) Correspondent Kim Yeon-sook = On the 1st (local time), the New York stock market fluctuated in line with the movement of U.S. Treasury yields before closing slightly higher.
·Seoul, Korea (the Republic of)
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US stocks: US market rebounds to close higher as surging Treasury yields recede
US stocks recovered from earlier losses, with the S&P 500 bouncing back after a global bond selloff. The Labor Department reported a dip in weekly initial jobless claims, indicating a solid labor market. Oil prices surged, raising inflation concerns as Brent crude settled significantly higher. Technology shares also showed strength, particularly after Accenture's positive revenue forecast.
·India
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Total News Sources35
Leaning Left4Leaning Right6Center13Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 17%
C 57%
R 26%
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