Market Snapshot: S&P 500 futures slip as a week of soaring bond yields, geopolitics take a toll

by | Oct 20, 2023 | Stock Market

U.S. stock futures pointed to a struggle for Wall Street on Friday, as rising bond yields and geopolitical tensions continue to take a toll on investors, who were digesting comments from Federal Reserve Chairman Jerome Powell.What’s happening
S&P 500 futures
fell 10.25 points, or 0.2%, to 4,293

Dow Jones Industrial Average futures
dropped 67 points, or 0.2% to 33,481

Nasdaq-100 futures
fell 45 points, or 0.3%, to 14,846

On Thursday, the Dow Jones Industrial Average 
finished 250.91 points, or 0.7% lower, at 33,414.17. The S&P 500 
 fell 36.60 points, or 0.8%, to end at 4,278, and the Nasdaq Composite 
lost 128.12 points, or 1%, at 13,186.17.

What’s driving markets Major indexes were poised for weekly losses as the 10-year Treasury yield came within less than a basis point of the psychological key 5% level on Thursday. The yield on the 10-year note
was down 4 basis points at 4.944% on Friday, but has surged 31 basis points this week, from 4.616% on Monday. Read: Why stock-market investors are fixated on 5% as 10-year Treasury yield nears key threshold Speaking in New York on Thursday, Powell gave a cautious outlook, but didn’t close the door on further interest rate increases. He also said that higher Treasury yields could be helping the Fed fight inflation, given they were hel …

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