US stocks gyrate as cool inflation tempers rate bets and Treasury yields rise

  • US stocks fluctuated as technology shares lifted the Nasdaq while the Dow and S&P 500 weakened.
  • Treasury yields rose for a seventh consecutive day, reaching multi-year highs.
  • Investors monitored Middle East developments, energy prices, economic data and Federal Reserve officials next.

US stocks moved unevenly on Wednesday as cooler-than-expected inflation reduced expectations for a Federal Reserve rate hike, while stronger GDP, consumer spending and private payrolls data highlighted economic resilience. Rising crude prices and a seventh consecutive daily increase in long-dated US Treasury yields kept inflation concerns active. The S&P 500 and Dow declined for the week, while the Nasdaq advanced; over the July-September quarter, the S&P 500 and Nasdaq gained and the Dow fell. Technology, communication services and software and services shares outperformed, with Alphabet and Apple supporting megacaps. The dollar weakened against a basket of currencies, European stocks recorded their first monthly loss in six months, and gold gave up earlier gains as higher energy prices outweighed the cooler inflation data. Investors also monitored US-Iran tensions, Russia's anticipated strikes against Ukraine's energy grid, regulatory activity involving artificial intelligence and private assets, and an emergency flight incident involving Israeli passengers. Markets were set to watch Middle East developments, energy prices, Treasury yields, Federal Reserve speakers, employment data and manufacturing surveys next.

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US stocks gyrate as cool inflation tempers rate bets and Treasury yields rise - CoinPost Terminal