US stocks open lower as oil rises, yields near highs
The Dow Jones Industrial Average dropped 178.5 points, or 0.35%, at the open amid a surge in oil and Treasury yields hovering near multi-year highs.
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The Dow Jones Industrial Average dropped 178.5 points, or 0.35%, at the open amid a surge in oil and Treasury yields hovering near multi-year highs.
European stocks rose, extending a global equity rally as investors turned more optimistic ahead of earnings season. The euro rose, while long-dated Treasury yields retreated from multi-decade highs.
Benchmark 10-year U.S. Treasury yields held near their highest since June 2007, while German and French 10-year yields hit 17-year and 18-year highs. Stocks were broadly resilient, with Asian shares higher and European indexes little changed.
Benchmark sovereign yields in the US, Germany and France hovered near multi-year highs while equity indexes rose across Asia and Europe. The dollar was set for a monthly gain, with crude and gold also firmer on the month.
* Oil has continued to trend lower during Wednesday's APAC session as talks continue on the sidelines of this week's UN gathering. The fact negotiations are even taking place to facilitate Middle East energy shipments is driving optimism in markets but the situation remains very precarious. UST futures are higher, but