US stock market indices commenced the trading session higher, after starting the two previous sessions in the red, following stabilising oil prices along with a lower US-10 Year bond yield on Thursday.
After the opening bell, the Dow Jones Industrial Average was up 0.6%, with the S&P 500 traded at an uptick of 0.5%, and the Nasdaq Composite started the session 0.4% higher.
Oil futures were in the green with Brent crude trading at a 0.65% rise at $96.25 per barrel at 7:00 p.m. IST. The West Texas Intermediate crude futures were 1% higher at $92 per barrel.
The 10-Year bond yield declined to 4.75% after reaching its highest level since November 2023 on Wednesday, This development comes after Federal Reserve Governor Christopher Waller stated that he’d be “inclined to support” keeping interest rates unchanged as long as the upcoming inflation data does not incentive otherwise.
The yield amount was also affected by an uptick in the Japanese yen compared to the US dollar, it was over 1% against the dollar, which was at 156.1 yen.
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The 30-year Treasury yield stood at 5.25%, while the yield on the 2-year yield was down around at 4.317%. The US’s 10-Year Treasury Yields increasing over 4.81% on Wednesday.
Chipmaker Broadcom Inc. shares post earnings as the stock fell 4%. It’s stock futures had also tumbled after its fourth quarter revenue guidance came in below Wall Street expectations, bringing attention to lofty valuations of AI stocks.