U.S. Stocks Turn Mixed as 10-Year Yield Slips to 4.573% and Brent Drops Nearly 2%
Updated
Updated · Reuters · May 18
U.S. Stocks Turn Mixed as 10-Year Yield Slips to 4.573% and Brent Drops Nearly 2%
6 articles · Updated · Reuters · May 18
The Dow rose 0.28% and the S&P 500 edged up 0.04% by mid-morning, while the Nasdaq slipped 0.14% in choppy trading.
The 10-year Treasury yield eased to 4.573% after earlier touching 4.631%, and Brent crude fell nearly 2% on reports Washington proposed a temporary waiver on Iranian oil sanctions.
That pullback helped cool the bond selloff that had pressured equities, though traders still see a 38.8% chance of a Fed rate hike in January after last week's hot inflation data.
Dominion Energy jumped 10.5% after NextEra agreed a $66.8 billion all-stock deal, while Regeneron fell 11.5% after its melanoma drug combination missed a late-stage trial goal.
The market remains near record highs driven by AI enthusiasm, with Nvidia due Wednesday and Walmart results expected to test consumer resilience against higher energy and inflation pressures.
The market is near record highs, but experts warn of an AI bubble. Are we repeating the dot-com crash with smarter companies?
As AI's power demand fuels record utility mergers, is the energy grid prepared or heading for a major bottleneck?
With Iran demanding Chinese yuan for oil passage, is the US dollar's dominance in energy markets facing its biggest challenge?