The 10-year Treasury yield once again brushed 16-year highs
Wall Street fell across the board today, with bond yields once more overshadowing earnings season, as the 10-year Treasury yield returned to its highest level in more than 16 years. The Dow and Nasdaq logged triple-digit losses, with the former snapping a three-day win streak. All three major indexes suffered their worst single-session drop since Oct. 3. Elsewhere, the Cboe Volatility Index (VIX) secured its fourth win in five sessions.
- Call traders should keep an eye on this tech stock.
- Another bank stock to watch after earnings.
- Plus, sectors for options traders; PG's post-earnings bump; and UAL's decent.
5 Things to Know Today
- For a second day in a row, Rep. Jim Jordan lost his bid to become speaker of the U.S. House of Representatives. (CNBC)
- The Federal Reserve's Beige Book survey found "stable" to "slightly weaker" growth in the U.S. economy so far this fall. (MarketWatch)
- These are options traders' favorite sectors right now.
- P&G stock defied the selloff today.
- Airline sector in trouble after sour forecast.
Oil Futures Clock Highest Close Since Oct. 3
Following a completely muted session, oil futures closed at their highest mark in more than two weeks. An explosion at a Gaza City hospital increased tensions in the Middle East, raising fears of a potential loss of oil supply from exporters in the region. Crude for November delivery rose $1.66, or 1.9%, to settle at $88.32 per barrel.
Gold futures also advanced on the back of mounting Middle East tensions. For the session, December-dated gold added $32.60 to settle at $1,968.30 an ounce