Stock Market Midday, Oct. 7: Rising Treasury Yields Pressure Stocks, Caterpillar tumbles over 6%
As of 11:36 a.m. ET, the S&P 500 was down 0.51% to 7,779, the Nasdaq Composite down 0.55% to 27,449 and the Dow down 0.98% to 51,018. The article attributed Caterpillar’s decline of more than 6% to an analyst downgrade and investor jitters over artificial intelligence, and noted the 10-year Treasury yield, up 4 basis points to 5.31%, was close to its highest level since 2002. The Motley Fool
Global bond sell-off pushes U.S. Treasury yields to fresh 24-year highs
The 10-year Treasury yield reached 5.36% and the 30-year 5.73%, the highest for each since 2002, as the S&P 500 and Nasdaq each fell about 0.2% and the Dow 341 points. The Treasury’s $39 billion 10-year auction stopped at 5.3%, which the article described as the highest yield on a U.S. 10-year sale since November 2000. NBC News
Fed officials see another hike coming, but no sign as to when, minutes show
Minutes of the September 15-16 FOMC meeting, at which the Fed raised rates 25 basis points to 3.75%-4.00%, showed most participants judged another increase would likely be appropriate by year end, with no indication of timing. CNBC
| Asset | Close | Chg | % |
|---|---|---|---|
| S&P 500^GSPC | 7,801.77 | -17.16 | -0.22% |
| Nasdaq Composite^IXIC | 27,538.69 | -61.10 | -0.22% |
| Dow Jones^DJI | 51,179.87 | -341.41 | -0.66% |
| CBOE Volatility Index^VIX | 15.08 | +0.07 | +0.47% |
| U.S. Dollar IndexDXY · 4:00 PM ET | 102.28 | +0.43 | +0.42% |
| Brent CrudeICE Dec '26 · 2:30 PM ET settle | $100.20 | -$0.38 | -0.38% |
| GoldCOMEX Dec '26 · 1:30 PM ET | $4,140.20 | -$48.10 | -1.15% |
| Tenor | Close | Chg | % |
|---|---|---|---|
| 1-MonthT-bill | 4.07% | +1bp | +0.25% |
| 3-MonthT-bill | 4.22% | +1bp | +0.24% |
| 6-MonthT-bill | 4.28% | 0bp | 0.00% |
| 1-YearT-note | 4.42% | -4bp | -0.90% |
| 2-YearT-note | 4.77% | -2bp | -0.42% |
| 5-YearT-note | 5.03% | 0bp | 0.00% |
| 10-YearT-note | 5.28% | +1bp | +0.19% |
| 30-YearT-bond | 5.67% | +3bp | +0.53% |