Stock market today: Dow, S&P 500, Nasdaq slip as rising bond yields offset Micron earnings - finance.yahoo.com — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Dow edged higher while the S&P 500 and Nasdaq declined, as rising bond yields countered gains from AI-related stocks and Micron's earnings release
- Bond yields rose to multi-year highs — the 10-year at its highest since 2007 and the 30-year since 2004 — deepening a global bond selloff that pressured equity valuations
- Micron reported earnings that analysts had projected could show a 10x jump in profits, but its stock dropped post-release, failing to lift broader sentiment
- AI-related stocks, including those benefiting from Google’s enterprise AI push, gained ground, helping cap losses in tech-heavy indices despite macroeconomic pressure
- Stock futures rose at the start of October, reflecting investor focus on AI momentum even as yields wavered and corporate debt refinancing risks loomed
Why it matters: Rising yields are forcing a repricing of risk assets, which hurts growth stocks despite strong earnings or AI hype. Micron’s post-earnings drop shows even solid company results can’t shield against macro forces when rates approach levels last seen two decades ago, altering near-term market leadership dynamics.
Ask SkimNews
