Finance

The 10-year U.S. Treasury yield rose to 5.31%, hovering near its highest mark in over two decades. Bond yields remain stubbornly high due to a resilient domestic economy, substantial corporate spending on artificial intelligence infrastructure, and ongoing consumer inflation anxieties.

A softer-than-expected nonfarm payrolls report for September indicated that employment gains fell short of forecasts while the unemployment rate ticked up to 4.2%. Market expectations for an immediate interest rate hike by the Federal Reserve this month dropped to roughly 20%, offering temporary relief to equity markets.

International oil prices fell roughly 2% after a Group of Seven commitment to release 100 million barrels of crude and diesel stockpiles from emergency reserves. Brent crude futures settled just above $100 a barrel, mitigating some immediate energy inflation worries on Wall Street despite ongoing Middle East supply uncertainties.