FINWIRES · TerminalLIVE
FINWIRES

US Equity Markets Higher as Tech, Communication Stocks Rise Amid Drop in Government Bond Yields, Crude Oil Prices

By

US equity indexes were higher Monday as communication services and technology stocks rose after long-term government bond yields declined and crude oil prices fell.

* Among stocks with market capitalization exceeding $200 billion, Arm (ARM), Intel (INTC), and Advanced Micro Devices (AMD) were among the top 10 companies, according to data compiled by Finviz.

* Iran and the US exchanged new threats on Sunday, although President Donald Trump said he would be open to meeting Iranian President Masoud Pezeshkian, who is expected to be in New York this week for the United Nations General Assembly, Reuters reported.

* October West Texas Intermediate crude oil fell $4.69 to settle at $95.61 per barrel, while November Brent crude, the global benchmark, was last seen down $3.66 at $100.21.

* Meta Platforms (META) has initiated a new legal challenge in London against the UK's media regulator, Ofcom, over additional scrutiny under the Online Safety Act, multiple news outlets reported Sunday. Shares of the company were up roughly 11%, one of the top gainers on the S&P 500 and the Nasdaq.

* BofA Securities adjusted the share price target for United Parcel Service (UPS) to $108 from $115 while maintaining a neutral rating. The company's stock fell about 4.5%, among the worst performers on the S&P 500.

What else is happening in Japan?

Japan

US Equity Markets Mixed After Government Bond Yields Rise, Crude Oil Prices Fall

US equity indexes were mixed Friday as government bond yields rebounded, with the 10-year hovering near its highest level in almost two decades, while crude oil prices fell.* US equity funds recorded outflows for a fourth consecutive week as rising crude oil prices heightened inflation concerns and expectations of a Fed rate increase added to investor caution ahead of its policy decision, Reuters reported.* "We now expect two more hikes from the [Federal Reserve in the next 12 months], and our commodity analysts see energy markets facing a convergence of supply chain disruptions," Morgan Stanley said in a note.* October West Texas Intermediate crude oil fell $2.26 to settle at $99.65 per barrel, while November Brent crude, the global benchmark, was last seen down $1.64 at $103.18.* Nucor (NUE) shares were down 6.3%, the worst performer on the S&P 500, after the company said late Thursday it expects Q3 earnings of $5.55 to $5.65 per diluted share, below analysts' estimates.

Dow JonesNasdaq CompositeS&P 500$NUE
Japan

Update: US Equity Indexes Mixed as Benchmark Treasury Yield Rises 5%

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes traded mixed in the final leg of trading while government bond yields rebounded, with the 10-year hovering near its highest level in almost two decades.The Nasdaq Composite rose 0.2% to 26,460.5, and the S&P 500 edged up less than 0.1% to 7,642.1 ahead of Friday's close. The Dow Jones Industrial Average slipped 0.2% to 51,688.5. Materials and utilities led decliners."We now expect two more hikes from the [Federal Reserve], and our commodity analysts see energy markets facing a convergence of supply chain disruptions," Morgan Stanley said in a note after Wednesday's 25-basis-point rate increase. "A higher expected path for oil prices means disinflation will be slower, and more restrictive policy also weighs on growth in 2027."Morgan Stanley expects rate increases of the same magnitude in December and March, to a target range of 4.25 to 4.50%. "They hold there through the end of next year."US Treasury yields rose after midday. The 10-year yield jumped 5.5 basis points to 5%, trading near its strongest level since 2007. The two-year yield climbed 5.5 basis points to 4.75%, a multi-month high.The front-month US West Texas Intermediate crude oil contract fell 2.3% to $99.61 per barrel, while the global benchmark North Sea Brent declined 1.6% to $103.09 per barrel.

Dow JonesNasdaq CompositeS&P 500
Japan

Update: US Equity Indexes Fall as Benchmark Treasury Yield Jumps Back Above 5%

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes fell as government bond yields rebounded, with the 10-year hovering around its highest in almost two decades.The Nasdaq Composite slipped 0.1% to 26,383.5, the S&P 500 declined 0.2% to 7,619.6, and the Dow Jones Industrial Average retreated 0.4% to 51,563.9 after midday Friday.US Treasury yields rose after midday. The 10-year yield jumped 5.1 basis points to 5%, trading near its strongest level since 2007. The two-year yield climbed 5.1 basis points to 4.74%, a multi-month high.The front-month US West Texas Intermediate crude oil contract rose 0.2% to $101.70 per barrel, while the global benchmark North Sea Brent slipped 0.5% to $104.28 per barrel.In company news, Nucor (NUE) shares slumped 6%, one of the worst performers on the S&P 500, after the company said late Thursday it expects Q3 earnings of $5.55 to $5.65 per diluted share, falling short of analysts' consensus.

Dow JonesNasdaq CompositeS&P 500$NUE