Wall Street rises as oil prices and Treasury yields ease

Summarised from 2 outlets · 3 reports · Updated 9 Oct, 17:01 · Archive

US stock indices climbed as oil prices fell and Treasury yields steadied following easing Middle East tensions.

US stock indices edged higher as oil prices retreated on easing Middle East supply concerns. Oil prices fell after US President Donald Trump said on Thursday the country will not attack Iran before US midterm elections next month. Brent crude prices were down about one per cent but were still trading over the $100-a-barrel mark, while the benchmark 10-year Treasury yield held steady at 5.25 per cent, though it remained close to the 24-year high of 5.364 per cent hit on Wednesday.

The S&P 500 and the tech-heavy Nasdaq were headed for weekly gains despite pulling back over the previous two sessions. Optimism around an AI-driven third-quarter earnings season had pushed both indices to record highs earlier in the week. The blue-chip Dow was also on track for slim weekly gains, and the equal-weighted S&P 500 index was on track to snap a seven-week losing streak.

Megacap growth stocks were broadly higher, with Tesla rising 1.8 per cent, Nvidia up 1.5 per cent and Microsoft up 1.2 per cent. However, telecom shares remained under pressure after SpaceX struck a deal to acquire a US-wide low-band spectrum portfolio. T-Mobile US fell 9.1 per cent, AT&T fell 7.4 per cent and Verizon eased 6.3 per cent. Ten out of eleven sectors advanced overall, with real estate and consumer discretionary leading the gains.

How it is being reported

• Wall Street opens higher as price of oil slipsUS stocks have opened higher as investors digested an easing in global oil prices and calmer US Treasury yields.Perth Now · 9 Oct, 16:02
• Wall Street opens higher as price of oil slipsUS stocks have opened higher as investors digested an easing in global oil prices and calmer US Treasury yields.The West Australian · 9 Oct, 16:02
• Wall Street dips as US Treasury yields and oil reboundUS stocks have opened lower as investors kept an eye on the price of oil and US Treasury yields.Perth Now · 7 Oct, 17:17

In this story: Wall Street · United States · Donald Trump · Iran · S&P 500 · Nasdaq · SpaceX

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