Oil jumped to its highest since May on Iran war fears, gold fell $24 to $3999, the S&P 500 slipped 0.5%, and the 10-year Treasury yield rose to 5.00%, against mixed US and Canadian data.
Oil's surge on Iran war fears coincided with Treasury yields climbing to 5.00%, while mixed US data gave markets no clear offsetting signal. Higher long-term yields raise the discount rate applied to future corporate earnings, which tends to weigh on the S&P 500 and other rate-sensitive growth stocks.
LiveSquawk·10/23, 08:45 PM
FirstSquawk·10/23, 03:02 AM