US stocks dipped on Friday, but are still on track for weekly gains as bond yields continued to decrease.
The S&P 500, Nasdaq, and the Dow Jones Industrial Average saw gains of about 2% or more this week, largely due to the cooler-than-expected inflation data. Traders responded by factoring in greater odds of the central bank pivoting to rate cuts next year.
The 10-year Treasury yield continued to drift lower on Friday, while oil prices edged up after a sharp decline on Thursday.
As of 9:30 a.m. on Friday, US indexes stood as follows:
– West Texas Intermediate crude oil rose 1.9% to $74.25 a barrel
– Brent crude, the international benchmark, climbed 1.9% to $78.90 a barrel
– Gold remained flat at $1,987 per ounce
– The 10-year Treasury yield dipped 1 basis point to 4.435%
– Bitcoin rose 1% to $36,340.
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