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US stocks edge higher as Treasury yields retreat
US stocks closed slightly higher as Treasury yields eased, oil prices rose and investors reduced expectations of an October Federal Reserve rate hike.
United States benchmark averages recovered from early losses to finish marginally higher on Thursday (Friday AEST), with the S&P 500 rebounding from a two-week low as a global bond sell-off eased after pushing US Treasury yields to multi-decade highs.
The Dow Jones Industrial Average rose 20.5 points or 0.04% to 50,926.6, while the S&P 500 added 14.9 points or 0.2% to 7,666.5. The Nasdaq Composite gained 10.5 points or 0.04% to 26,871.6.
Oil prices remained a key driver of inflation concerns, with Brent crude settling more than US$4 a barrel higher after China suspended fuel exports, raising fears of tighter global supply conditions.
The increase in crude prices supported the S&P 500 energy sector, with Chevron gaining 1.4%, ConocoPhillips rising 1.5%, Occidental Petroleum advancing 4.6% and Devon Energy adding 2.4%.
Technology stocks also performed strongly following results from Accenture, which surged 15.8% after the IT consulting company forecast full-year revenue growth above market expectations. The company’s shares closed at their highest level since March 6.
Micron Technology gained 3% after issuing a stronger-than-expected revenue outlook, while $32 billion in customer commitments under its supply agreements boosted confidence in the artificial intelligence investment theme.
In economic data, the US Labor Department reported weekly initial jobless claims fell to 197,000, below expectations of 200,000.
Separately, the Institute for Supply Management (ISM) said its manufacturing PMI eased slightly to 54.5 last month from 54.6 in August, while a sharp increase in input prices renewed concerns about inflation pressures.
Softer-than-expected inflation data released on Wednesday further reduced expectations that the Federal Reserve would raise interest rates at its October meeting.
Markets are now pricing in a 24.9% chance of a rate hike of at least 25 basis points, down from 68.6% a week earlier, according to the CME Group FedWatch Tool.
On the bond markets, 10-year and 2-year Treasury yields declined 0.9% and 2.1%, respectively, to 5.243% and 4.791%.
Original on Media.com
Version history
Minor correction 2 October 2026, 7:10am
Minor correction 2 October 2026, 7:10am
Minor correction 1 October 2026, 10:26pm
Minor correction 1 October 2026, 10:26pm
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Before After Unchanged: United States benchmark averages recovered from early losses to finish marginally higher on Thursday (Friday AEST), with the S&P 500 rebounding from a two-week low as a global bond sell-off eased after pushing US Treasury yields to multi-decade highs. Unchanged: United States benchmark averages recovered from early losses to finish marginally higher on Thursday (Friday AEST), with the S&P 500 rebounding from a two-week low as a global bond sell-off eased after pushing US Treasury yields to multi-decade highs. Unchanged: The Dow Jones Industrial Average rose 20.5 points or 0.04% to 50,926.6, while the S&P 500 added 14.9 points or 0.2% to 7,666.5. The Nasdaq Composite gained 10.5 points or 0.04% to 26,871.6. Unchanged: The Dow Jones Industrial Average rose 20.5 points or 0.04% to 50,926.6, while the S&P 500 added 14.9 points or 0.2% to 7,666.5. The Nasdaq Composite gained 10.5 points or 0.04% to 26,871.6. Unchanged: Oil prices remained a key driver of inflation concerns, with Brent crude settling more than US$4 a barrel higher after China suspended fuel exports, raising fears of tighter global supply conditions. Unchanged: Oil prices remained a key driver of inflation concerns, with Brent crude settling more than US$4 a barrel higher after China suspended fuel exports, raising fears of tighter global supply conditions. Unchanged: The increase in crude prices supported the S&P 500 energy sector, with Chevron gaining 1.4%, ConocoPhillips rising 1.5%, Occidental Petroleum advancing 4.6% and Devon Energy adding 2.4%. Unchanged: The increase in crude prices supported the S&P 500 energy sector, with Chevron gaining 1.4%, ConocoPhillips rising 1.5%, Occidental Petroleum advancing 4.6% and Devon Energy adding 2.4%. Unchanged: Technology stocks also performed strongly following results from Accenture, which surged 15.8% after the IT consulting company forecast full-year revenue growth above market expectations. The company’s shares closed at their highest level since March 6. Unchanged: Technology stocks also performed strongly following results from Accenture, which surged 15.8% after the IT consulting company forecast full-year revenue growth above market expectations. The company’s shares closed at their highest level since March 6. Unchanged: Micron Technology gained 3% after issuing a stronger-than-expected revenue outlook, while $32 billion in customer commitments under its supply agreements boosted confidence in the artificial intelligence investment theme. Unchanged: Micron Technology gained 3% after issuing a stronger-than-expected revenue outlook, while $32 billion in customer commitments under its supply agreements boosted confidence in the artificial intelligence investment theme. Unchanged: In economic data, the US Labor Department reported weekly initial jobless claims fell to 197,000, below expectations of 200,000. Unchanged: In economic data, the US Labor Department reported weekly initial jobless claims fell to 197,000, below expectations of 200,000. Unchanged: Separately, the Institute for Supply Management (ISM) said its manufacturing PMI eased slightly to 54.5 last month from 54.6 in August, while a sharp increase in input prices renewed concerns about inflation pressures. Unchanged: Separately, the Institute for Supply Management (ISM) said its manufacturing PMI eased slightly to 54.5 last month from 54.6 in August, while a sharp increase in input prices renewed concerns about inflation pressures. Unchanged: Softer-than-expected inflation data released on Wednesday further reduced expectations that the Federal Reserve would raise interest rates at its October meeting. Unchanged: Softer-than-expected inflation data released on Wednesday further reduced expectations that the Federal Reserve would raise interest rates at its October meeting. Unchanged: Markets are now pricing in a 24.9% chance of a rate hike of at least 25 basis points, down from 68.6% a week earlier, according to the CME Group FedWatch Tool. Unchanged: Markets are now pricing in a 24.9% chance of a rate hike of at least 25 basis points, down from 68.6% a week earlier, according to the CME Group FedWatch Tool. Deleted: On the bond markets, 10-year and 2-year Treasury yields declined 0 Added: On the bond markets, 10-year and 2-year Treasury yields declined 0.9% and 2.1%, respectively, to 5.243% and 4.791%. First published 1 October 2026, 10:25pm
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