U.S. stocks experienced declines as investors braced for significant earnings announcements on Monday, Oct. 21. The S&P 500 fell by 0.2%, though it still maintains a strong 23.4% year-to-date increase.
The Dow Jones Industrial Average dropped 0.8%. Meanwhile, the Nasdaq composite edged up by 0.3%, contributing to a 25.6% YTD gain. U.S. Treasury yields surged, with the 10-year yield rising 12.3 basis points to 4.2%, its highest since late July. Oil prices rose 1.4% to $70.30 per barrel.
On Tuesday, U.S. stocks remained flat after the release of corporate earnings reports. The S&P 500 ended the day unchanged while the Dow held steady. The Nasdaq rose 0.2%, reaching its highest level since July. U.S. Treasury yields edged up slightly, with the 10-year yield rising 0.8 basis points to 4.2%. Oil prices climbed 2.5% to $72.09 per barrel
U.S. stocks tumbled on Wednesday as rising Treasury yields unsettled investors. The S&P 500 dropped 0.9%, the Nasdaq fell 1.6%, and the Dow fell 1%, marking its worst day in over a month. Gold suffered its worst drop in 11 weeks, falling 1.2%. Oil prices decreased 1.4% to $71.05 per barrel. U.S. Treasury yields continued to climb, with the 10-year yield rising 2.9 basis points to 4.2%.
By Thursday, U.S. stocks edged higher. The S&P 500 rose 0.2%, breaking a three-day losing streak and bringing its YTD gain to 22.5%. The Nasdaq climbed 0.8%, contributing to a 24.7% gain for the year, while the Dow dipped 0.3%. Oil fell by 1.0% to $70.33 per barrel, and 10-year Treasury yields dropped 2.9 basis points to 4.2%.
Stocks closed mixed, ending a six-week winning streak on Wall Street, with the S&P 500 finishing the day nearly flat. The Dow declined 0.6% while the Nasdaq edged up 0.6%, driven by gains in several major tech companies. This week, U.S. stocks fluctuated amid rising Treasury yields, earnings reports, and heightened uncertainty around the presidential election.
Early in the week, the markets faced declines due to surging yields and investor caution ahead of significant earnings announcements. By Thursday, optimism around corporate results helped fuel a recovery.
