Wall Street closes higher as Treasury yield retreats from 24-year high

  • Wall Street reversed an earlier decline and finished higher as Treasury yields retreated.
  • The benchmark Treasury yield fell from a 24-year high after seven sessions of gains.
  • Investors awaited September U.S. employment data expected to show 90,000 new jobs and 4.1% unemployment.

Wall Street began a new quarter with a modestly higher close after the benchmark U.S. Treasury yield eased from a 24-year high, ending a seven-session advance. Investors now await Friday’s U.S. employment report, expected to show 90,000 jobs added in September and unemployment steady at 4.1%. Energy, chip, software and transport shares outperformed, while healthcare and communication services lagged. Micron and Accenture rose after issuing stronger-than-expected revenue forecasts. The dollar reached a 17-month high against the euro, crude settled higher after China halted oil-products exports, and gold gained as expectations for Federal Reserve rate increases moderated. Nvidia’s financing plans, Russia’s nuclear warning to NATO over Kaliningrad, and a cyber campaign targeting artificial-intelligence experts also featured in the day’s market discussion.

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