Treasury yields are higher than usual
The Dow turned in its sixth loss in seven sessions amid higher Treasury yields, with the 10-year note hitting a 15-year peak earlier in the session. Meanwhile, the Nasdaq turned in a healthy win, as energy equities outperformed amid higher oil prices.
Continue reading for more on today's market, including:
- Cruise giant could succumb to technical pressure.
- Don't bet on XPO stock just yet.
- Plus, flashing bear signal; EV firm's upgrade; and Costco's earnings.
5 Things to Know Today
- U.S. health care providers wrote more than 9 million prescriptions for obesity drugs like Ozempic and Wegovy in the last quarter of 2022. (CNBC)
- Meta Platforms (META) just revealed what it claims as the first mainstream mixed-reality headset. (MarketWatch)
- History says there's reason for concern ahead.
- EV charging firm earns an upgrade.
- Unpacking Costco's quarterly report.
Oil Prices Hit 2023 High as Gold Falls to Multi-Month Low
Oil futures climbed back towards $100 per barrel, after a drop in U.S. crude supplies last week. Crude for November delivery added $3.29, or 3.6%, to settle at $93.68 per barrel -- its highest level of the year.
The greenback's surge pressured gold futures lower, with December-dated gold losing $28.90, or 1.5% to close at $1,890.90 an ounce on the day. That marked its lowest close since March 10, and its biggest one-day percentage loss since April.