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By Staff Reporters
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The Dow Jones Industrial Average gained 0.40%, or 137 points, The S&P 500 fell 0.20%, the NASDAQ slipped 1.3%. All three major averages ended the week in the red.
Technology stocks snapped a three-week winning streak, keeping the broader market in the red as investors remain wary of growth sectors of the market in the wake of surging Treasury yields.
The 10-year Treasury yield jumped above 2.7% for the first time in more than three years on expectations for aggressive Federal Reserve tightening to stem inflation.
DEFINITION: In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.
CITE: https://www.r2library.com/Resource/Title/082610254
Gold Futures for June delivery were down 0.34% or 6.60 to $1,931.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May rose 0.31% or 0.30 to hit $96.33 a barrel, while the June Brent oil contract rose 0.14% or 0.14 to trade at $100.72 a barrel.
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Filed under: Alerts Sign-Up, Interviews | Tagged: 10 year treasury yield, bond yields, bonds, commodities, commodity, DJIA, Dow Jones Industrial Average, NASDAQ, S&P 500, Technology, Treasury yields |
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