Stocks mostly rise as oil and US yields ease; euro edges up
SPY•US stocks rose as oil prices and Treasury yields eased, while the euro gained 0.17% to $1.1229. The Dow rose 0.94%, the S&P 500 gained 0.4% and the Nasdaq added 0.2%; US crude fell 0.89% to $102.74 a barrel.
1. US stocks advance
US stocks rose on Tuesday as oil prices and Treasury yields eased. The Dow gained 490.46 points, or 0.94%, to 52,453.89; the S&P 500 added 30.54 points, or 0.4%, to 7,721.27; and the Nasdaq rose 53.23 points, or 0.2%, to 26,484.11.
2. Yields and housing data
The 10-year US Treasury yield fell 4 basis points to 5.096%. September single-family homebuilding and permits fell sharply, while pending home sales dropped 7.3% to 66.0, the lowest reading since the series began in 2001. Traders priced in a 14.9% probability of a Federal Reserve rate hike of at least 25 basis points next week, down from 22.1% a week earlier.
3. Oil slips, euro rises
US crude fell 0.89% to $102.74 a barrel and Brent declined 1.2% to $108.23. The euro rose 0.17% to $1.1229. Investors were watching upcoming corporate earnings for signs of consumer and economic resilience and whether heavy AI spending is paying off.
