Dow Dragged Nearly 400 Points On Yields, Oil Surge


A lift in crude prices and the 10-year Treasury yield pushed stocks lower Monday. The Dow was dragged almost 400 points, while the S&P 500 and Nasdaq suffered more modest pullbacks. The yield surged more than 4 basis points to move back above 4%, or their highest mark since August. This comes after last week’s upbeat jobs data and precedes a highly-anticipated earning season. Wall Street’s “fear gauge,” meanwhile, climbed back above the key 20 level.Closing Index Summary October 72024NYSE and Nasdaq Stats October 732024Unusual Options Activity October 72024

OIL’S SURGE CONTINUES
Ongoing escalations in the Middle East combined with today’s creeping fears of a second large hurricane building in the south. November-dated West Texas Intermediate (WTI) crude rose $2.76, or 3.7%, to settle at $77.14 per barrel for the day.Pared Fed expectations and a strong greenback pushed gold lower on the day. Gold for December delivery fell $5.20, or 0.2% to trade at $2,662.70, at last glance.More By This Author:Stocks Stumble as “Fear Gauge” Reclaims 20Oil Posts Best Week Since March 2023Stocks Choppy Despite ‘Soft Landing’ Signals

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