Stocks Dip Ahead of Jobs Report as Treasury Yields Retreat from Highs, China Eases Data Rules

U.S. stocks dipped slightly Thursday ahead of the September jobs report coming out today. Asia-Pacific markets traded higher Friday.

The 10-year Treasury yield hit a 16-year high of 4.8% on Tuesday before dropping about 8 basis points. High yields are bad for investors and consumers.

JPMorgan's Marko Kolanovic predicts a 20% S&P 500 sell-off if high interest rates persist, saying no stocks can escape the downturn.

China proposed easing data export rules, which would significantly ease difficulties for foreign companies operating there.

Oakmark Funds' Bill Nygren says the September slump makes some stocks look cheap, giving value investors a "tremendous opportunity."