Home Bitcoin Dow Wavers; Treasury Yields Pull Back; Bitcoin Price Drops — Live Updates

Dow Wavers; Treasury Yields Pull Back; Bitcoin Price Drops — Live Updates

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Dow Wavers; Treasury Yields Pull Back; Bitcoin Price Drops — Live Updates

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Bonds are back—sort of.

Yields on longer-dated Treasurys retreated Friday, after settling at decade-plus highs the previous afternoon.

Surging borrowing costs have weighed on stocks and prompted a lot of companies to trim their future earnings expectations. On Friday, U.S. and global stock indexes were mixed despite the bond reversal.

Government bonds rallied. The 10-year U.S. Treasury yield fell back under 4.3%, after settling at the highest since November 2007. Yields and prices move inversely. The yield on longer-dated U.S. Treasurys ticked lower.

Stock indexes were mixed midday. The Nasdaq lost about 0.2%. The S&P 500 was flat while the Dow industrials were slightly higher. All three were on pace to end the week with loses.

Ross Stores is leading the S&P 500. The discount retailer was up more than 5% after posting better-than-expected earnings and boosting its financial outlook after Thursday’s closing bell.

Keysight Technologies and Deere & Co. are the S&P 500’s biggest losers after disappointing quarterly results.

Bitcoin declined. Selling pressure picked up after a long stretch of placid trading, with the digital currency recently trading around $26,000.

Agricultural commodities rose. Wheat futures in Chicago added more than 3%. Corn and soybean futures gained more than 1%.

Oil prices pushed higher. Benchmark U.S. barrels rose back above $80.

Overseas stocks declined. Hong Kong’s Hang Seng Index lost more than 2%, falling into a new bear market, while stocks in Germany, the U.K. and France also declined.

Coming up: Earnings from Palo Alto Networks are due after the close.

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