Nasdaq, S&P 500 edge up after 10-year Treasury yield briefly tops 5%: Stock market news today [XMMp8vTHlh5]
#stocks #inflation #YahooFinance #recession #bitcoin #Biden #Stockmarket #coronavirus #memestocks #Fed #YahooFinance #investing #stockmarket #crypto To get the latest market news check out finance.yahoo.com Stocks were mixed on Monday after the benchmark 10-year Treasury yield briefly rose above 5%, before retreating as investors increasingly accept interest rates will stay higher for longer.The Dow Jones Industrial Average (^DJI) fell just below the flat line while the S&P 500 (^GSPC) popped more than 0.2% and the Nasdaq Composite (^IXIC) rose about than 0.5%.The ongoing sell-off in bonds and worries about an escalation in Middle East hostilities are weighing on the market, as it waits for Big Tech companies to fire up earnings season this week. Stocks have stuttered as the "new normal" of elevated borrowing costs has sunk in, after Fed chair Jerome Powell signaled the central bank's commitment to the strategy.The 10-year yield (^TNX) was down about 4 basis points at 4.87% on Monday morning, easing slightly off 16-year highs. The yield on 30-year (^TYX) Treasury also fell to 5.01%.Stock Market Today - Monday Morning October 23 Yahoo Finance Against that backdrop, investors are bracing for key data to shed light on the strength of the US economy. Readings on third-quarter GDP and the Fed's preferred inflation gauge are expected later this week. Shares of Chevron (CVX) fell 3% in pre-market after the oil major said it will buy its smaller rival Hess (HES) for $53 billion in stock, seen as a bid to increase its operations in Guyana. Elsewhere in deal news, Roche has agreed to pay $7.1 billion to acquire Telavant. The bowel drugmaker is owned by Pfizer (PFE) and Roivant Sciences (ROIV), whose shares rose almost 12%. For more on this article, please visit: