World shares advance as oil falls and bond yields retreat
SPY•World stocks rose to two-week highs as oil prices and bond yields eased. The S&P 500 touched a record high, while Brent crude fell about 2% to $98.31 a barrel.
1. Stocks rise
The S&P 500 touched a record high for the first time since mid-August, rising 0.88%. The Nasdaq gained 0.85% and was on track for a third consecutive all-time high, while the Dow rose 0.76%; the pan-European STOXX 600 advanced 0.4%.
2. Yields and oil ease
The 10-year U.S. Treasury yield fell 4.4 basis points to 5.26%, and the 30-year yield dropped 5.6 basis points to 5.66%, retreating from fresh 24-year highs reached on Monday. Brent crude fell about 2% to $98.31 a barrel as resilient Middle East exports and a G7 emergency stockpile release eased supply concerns.
3. Earnings in focus
Investors looked ahead to third-quarter earnings, which begin in earnest next week. Goldman Sachs estimates consensus forecasts imply 27% growth in S&P 500 earnings, with more than half coming from companies benefiting from AI infrastructure spending.
