Posted 10/5/2023, 1:43:00 PM
Stocks Waver as Treasury Yields Stay High Despite Falling Oil Prices
- Wall Street drifts as bond yields stay high amid hot job market, easing oil prices
- Treasury yields bounced after jobless claims fell more than expected, hinting at inflation
- Crude prices down sharply this week on recession worries cutting energy demand
- Falling crude prices give some relief from inflation, but hurt energy companies
- Rising rates threaten economic growth, cool housing market
- Markets absorb shakeup in House speaker vote