Posted 10/23/2023, 3:50:18 PM
Stocks Grind Higher as Bond Yields Retreat From Highs; Oil Falls on Chevron Deal
- Stocks mixed as 10-year Treasury yield briefly tops 5% before retreating; Dow flat, S&P up 0.2%, Nasdaq up 0.5%
- Ongoing bond sell-off and Middle East worries weigh on market ahead of big tech earnings
- Shares of Chevron fell 3% in pre-market after agreeing to buy Hess for $53B in stock
- UAW extends auto strike to Stellantis plant in Detroit, citing lagging proposals on pay
- Analyst Stocks could rally if 10-year yield hits 5.25%, a 2006/2007 high