Stocks Weakened by Rising Bond Yields and Decline in Chip Stocks

Market Performance: Major U.S. stock indexes are experiencing slight declines due to rising bond yields, with the S&P 500 down by 0.06% and the Nasdaq 100 down by 0.38%. Positive corporate news from companies like Dollar General and Meta Platforms is providing some support.

Economic Indicators: Initial jobless claims fell to a three-year low, indicating a stronger labor market, while Challenger job cuts rose less than expected. Upcoming economic reports are anticipated to show modest increases in factory orders, personal spending, and income.

Interest Rates and Bonds: The 10-year T-note yield increased to 4.08%, influenced by expectations of a Bank of Japan interest rate hike and a stronger U.S. labor market. European bond yields are mixed, with the German bund reaching a two-month high.

Corporate Earnings: The Q3 earnings season is concluding with 83% of S&P 500 companies exceeding forecasts, marking the best quarter since 2021. Notable stock movements include significant gains for UiPath and Dollar General, while companies like Genesco and Snowflake reported disappointing results.