Record High Bond Yields Drag Stocks Down
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What is the opening market summary for US stocks and bond yields?
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Here's your closing bell brief for Thursday, September twenty fourth. I'm Danny Lewis for the Wall Street Journal. US stocks struggled today as rising bond yields pressured global markets. The SP five hundred and Nasdaq finished near flat after recovering earlier losses.
How did record‑high 10‑year Treasury yields affect equity performance?
Meanwhile, the Dow Jones industrial average slipped one hundred sixty one points, about a third of a percent by the close. Elevated government bond yields continued to climb to new highs. The ten year US Treasury yield rose. zero five percentage points to more than five percent, a nineteen year record. The thirty year Treasury yield also surged, reaching nearly five and a half percent, the highest level since June two thousand four. And oil prices fluctuated sharply during the afternoon as investors weighed dissonant reports of Houthi attacks as well as discussions about a phased deal to reopen the Strait of Hormuz. Brent crude jumped three point four percent to finish above one hundred and six dollars a barrel.
Among individual companies, Oracle shares fell almost three and a half percent after Bloomberg reported that invoked force majeure to shield itself from payments on a data center project.
Why did oil prices swing sharply amid Middle East reports?
According to the report, the project's developer is a unit of Blue Owl Capital, which lost more than three point six percent. Shares of MGM resorts dropped eleven percent today after Barry Diller said he was withdrawing his bid for the casino operator. And Meta Platform's stock rose four and a half percent after introducing new pairs of smart glasses and a handheld device integrating its recently launched Muse AI agent. Its stock is up more than fourteen percent this week. Heads up, an artificial intelligence tool helped us make this episode by creating summaries that were based on WSJ reporting and then reviewed and adapted by an editor. We'll have more coverage of the day's news on the WSJ's What's News Podcast.
What caused Oracle shares to slump and how did it relate to a data‑center project?
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Think all wealth managers are the same? Fisher Investments is clearly different. As a fiduciary, Fisher always does what's best for its clients. They don't sell commission-based investment products or make commissions on trades. Their fees are structured so they do better when clients do better. That might be why many of their clients come from other wealth managers.
How are Meta’s new smart‑glass devices and AI tools influencing its stock surge?
Visit Fisher Investments.com for more. Investing in securities involves the risk of loss.
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Chapters
5 chapters
1
What is the opening market summary for US stocks and bond yields?
0:00–0:45
2
How did record‑high 10‑year Treasury yields affect equity performance?
0:45–1:36
3
Why did oil prices swing sharply amid Middle East reports?
1:36–2:16
4
What caused Oracle shares to slump and how did it relate to a data‑center project?
2:16–2:40
5
How are Meta’s new smart‑glass devices and AI tools influencing its stock surge?
2:40–2:45