US Stocks rise for third straight day as bond yields fall

October 10, 2023Stocks in the US rose for the 3rd straight day as the market continues to assess the effect of the Israeli-Hamas conflict. Bond yields fell as financiers desired the security of United States Treasuries, and these falling yields assisted to bolster the stock exchange. Today was the first day that Treasuries have been traded since the start of the Israeli-Hamas conflict, as the bond market was closed on Monday. The Dow rose 134.65 points (0.4%), to 33,739.30. The S&P 500 gained 22.58 points (0.5%), reaching 4,358.24. The Nasdaq climbed up 78.61 points (0.6%), ending the day at 13,562.84. Caption: S&P 500 one-day chart for 10-10-2023. Source: MSN Money.The yield on the US 10 Year Treasury Note fell 0.149 points, to 4.655%, and the 2-year note fell 0.148 points, to 4.961%. The yield on a Treasury Note is inversely related to its cost, so a falling yield indicates a rising cost for it. Stocks have actually been under pressure given that July, as constantly rising yields have attracted investors to Treasuries rather of stocks, but todays pullback in yields was viewed as a welcome relief by stock exchange bulls.Oil costs decreased as war-related fears started to wane. West Texas Intermediate crude fell by $0.59 per barrel, to $85.79, while Brent crude declined by $0.03, to $87.62. Over the weekend, some traders had actually started to fear renewed sanctions versus Iran, which could reduce supply and drive up costs. However Iran denied involvement on Monday, which slowly began to reduce these expectations.Gold costs saw a decrease of $0.79 per Troy Ounce, falling to $1,860.48. Regardless of an early dip, a rally emerged around 10:30 am ET, allowing gold to recuperate a significant portion of its earlier losses.Gold one-day chart for 10-10-2023. Source: Business Insider.The US Dollar Index increased 0.29%, to 105.77. The euro acquired 0.3852%, winding up at 1.0606. The yen fell 0.1%, triggering the number of yen needed to buy a dollar to rise to 148.6660. Vintage Markets is dedicated to the in-depth expedition and reporting of standard financial news, tracing the journey of international markets and economies from Stone Age to Stoned Age.

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Bond yields fell as investors wanted the security of US Treasuries, and these falling yields helped to reinforce the stock market. Source: MSN Money.The yield on the US 10 Year Treasury Note fell 0.149 points, to 4.655%, and the 2-year note fell 0.148 points, to 4.961%. The yen fell 0.1%, triggering the number of yen required to buy a dollar to rise to 148.6660.