[New York Stock Exchange] U.S. Treasury Yields Remain Elevated... All Major Indexes Trading Lower

International Oil Prices Fall More Than 1%

Amid persistently high U.S. Treasury yields and falling international oil prices, all three major U.S. stock indexes are trading lower after a choppy session on September 29 (local time) in New York.

As of 9:59 a.m. at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average was down 85.74 points (0.17%) to 51,395.77 compared to the previous session. The S&P 500 index, which tracks large-cap stocks, was down 4.07 points (0.05%) to 7,679.62, while the tech-heavy Nasdaq index fell 12.37 points (0.05%) to 26,808.01.

New York Stock Exchange. New York (USA) – Special Correspondent Yoonju Hwang

The market has been fluctuating within a narrow range so far. Elevated Treasury yields have been weighing on stocks, though the decline in global oil prices has offered some relief.

U.S. Treasury yields moved up and down in early trading. The yield on the 10-year note stood at 5.264% per annum, up 0.02 percentage points from the previous day, while the 30-year note hovered at 5.589% per annum with little change. According to CNBC, the 10-year yield remains at its highest level since 2007, and the 30-year yield is also near its highest point since 2004.

In contrast, international oil prices are declining. On the New York Mercantile Exchange, November delivery West Texas Intermediate (WTI) crude was down 1.92% from the previous session, trading at $91.01 per barrel. On the ICE Futures Exchange, November delivery Brent crude was trading at $104.02 per barrel, down 1.38%.

Mark Haefele, Chief Investment Officer (CIO) of UBS Global Wealth Management, said in a report, "Investors should maintain positions with a focus on diversification while expecting further gains. We continue to view the bond market as an attractive investment destination."

He added, "If your priority is stable interest income, you may consider short-term bonds, which carry less interest rate volatility. If you are willing to accept price fluctuations, high-quality medium- to long-term bonds could also be considered."

Meanwhile, the market is paying close attention to the Consumer Confidence Index for September and the August Job Openings and Labor Turnover Survey (JOLTS), both set for release today. Should the data change the outlook on the economy or job market, it could also affect Treasury yields.

This content was produced with the assistance of AI translation services.