Oil Climbs to $107, Yields Hit 2004 Highs as Nasdaq Futures Slip
IXIC sits 31% above its 52-week low of $20,690.249.
Summary
Asian stocks slipped Monday as Brent crude rose 2.7% to $107.16 and 30-year Treasury yields hit 5.5173%, their highest since 2004. Nasdaq futures fell 0.7% and S&P 500 futures lost 0.3%, extending pressure from oil's 18% monthly surge and Fed rate-hike expectations. The dollar index hit two-month highs at 101.39, while gold dropped 2.2% to $4,192. This follows a month of oil-driven equity declines and the Fed's quarter-point hike on September 16. Key September payrolls data on Friday is forecast to show 85,000 jobs added, which could shift rate expectations further.
At the time of this announcement, IXIC was trading at $27,068.72 on NASDAQ in the Technology sector. The 52-week trading range was $20,690.25 to $27,288.79. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.