Tech Shares Advance While Treasury Yields Stay High
Technology stocks edged higher as the 10-year Treasury yield reached 5.30%, while traders weighed expectations for steady Federal Reserve rates.
Key takeaways
- The 10-year Treasury yield rose to 5.30%, while the two-year yield hovered at 4.82%.
- XLK was up 0.45% in Monday afternoon trading.
Technology stocks edged higher Monday as the 10-year Treasury yield rose to 5.30%. Stocks overall were mixed, while the two-year yield hovered at 4.82%.
As of Monday afternoon, the technology-focused XLK ETF traded at $200.71, up 0.45%. Nvidia was up 1.39% and Microsoft gained 1.67%. Nvidia had hovered near a record high earlier in the session, according to Yahoo Finance.
A softer-than-expected inflation report and a weak September jobs report released last week raised expectations that the Federal Reserve will hold rates steady this month.
Bitcoin traded at $85,655, up 0.54% over the previous 24 hours. Brent crude futures remained above $100 a barrel.
This article was produced with the help of AI technology. Source: Yahoo Finance
