Despite brief forays into the black, the Dow and S&P 500 ultimately finished lower for their fifth loss in the last six trading sessions. As the 10-year Treasury yield tested 5% again, the Nasdaq suffered its worst single-session percentage drop since February, with Alphabet (GOOGL) weighing especially heavy on investor sentiment after a cloud-related post-earnings dip. All eyes are now on tech behemoths Meta Platforms (META) and IBM (IBM), slated to report earnings after the close.
OIL SNAPS LOSING STREAK AMID MIDDLE EAST TENSIONS
Oil prices managed to snap a three-day losing streak, as investors continue to keep tabs on heightening tensions in the Middle East. December-dated West Texas Intermediate (WTI) crude, added $1.65, or 2%, to settle at $85.39 a barrel. International conflict and curiosity around the Fed’s policy leanings sent Gold futures higher this afternoon. December-dated gold added $8.80, or 0.4%, to settle at $1,994.90 an ounce.More By This Author:Alphabet Earnings, Rising Bond Yields Drag Nasdaq
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