US Equity Indexes Rise This Week as Broad-Based Rally Helps Offset Tech Declines While Treasury Yields Remain Elevated

MT newswire2026/10/09 20:23

04:23 PM EDT, 10/09/2026 (MT Newswires) -- US equity indexes rose this week as a broad-based rally outweighed weakness in technology amid elevated Treasury yields and moderately hawkish monetary policy meeting minutes. * The S&P 500 closed at 7,811.54 on Friday, versus 7,722.72 a week ago. The Nasdaq Composite stood at about 27,366.17, compared with 27,190.86 a week earlier. The Dow Jones Industrial Average ended at 51,654.95, relative to 51,176.96 last week. * All but two sectors, technology and industrials, rose this week. Consumer defensive, utilities, and energy led gainers. * Long-end Treasury yields remained elevated, with both the 10- and 30-year rates ending the week close to their highest since 2002, pushing up borrowing costs in government auctions. * The Treasury's auction of $39 billion of 10-year notes hit a high yield of 5.30%, up from about 4.83% in the previous auction. The bid-to-cover ratio rose to 2.77 from 2.71 in the previous auction, implying stronger demand. A $22 billion auction of 30-year bonds hit a high yield of 5.618%, up from 5.308% in the previous auction. The bid-to-cover ratio declined to 2.54 from 2.61 in the previous auction. * September's Federal Open Market Committee meeting minutes showed a "modestly hawkish" panel unanimously supporting the first interest-rate increase in three years, according to a Stifel note. The minutes showed broad-based support for a potential second-round increase by year-end amid a surprisingly resilient economy, the note said. * President Donald Trump said the US will not attack Iran before mid-term elections while pointing out "productive discussions" with Tehran. Saudi Arabia-backed Yemeni forces retook the coast around the Bab el-Mandeb Strait, pushing the Iran-aligned Houthis out of most of the areas seized last month.

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