Fed’s Williams Signals One More Rate Hike Before Year-End 
US Alcohol Ban Exposes Canada’s Internal Trade Barriers 
RBA Hikes Interest Rate to 4.60% as Inflation Risks Rise 
Gold Rebounds as Oil Falls and Treasury Rout Eases 
US Dollar Hits Two-Month High as Aussie, Pound Slide 
Japan Warns Markets Over Yen Weakness 
Asian Stocks Rise as Bond Yields Ease Ahead of U.S. Inflation Data 
Gold Holds Near Seven-Week Low as Fed Rate Hike Bets Rise 
Asian Stocks Fall as Bond Yields and Oil Prices Surge 
Asian Stocks Fall as Oil Surge, Bond Yields and AI Concerns Hit Markets 
Asian Currencies Weaken as Dollar, Oil Prices Rise 
U.S. Stock Futures Steady as AI, Rate Concerns Weigh 
Oil Prices Slide as Middle East Flows Recover 
Asian Currencies Mixed as Yen Weakens, RBA Hike Looms 
Gold Plunges 4% as Treasury Yields Surge and Fed Rate Hike Bets Rise 
Dollar Eases Near Two-Month High as Yen Rebounds 
Add as a preferred source on Google
Wall Street closed higher on Friday as gains in materials and cryptocurrency-related stocks helped offset renewed pressure from rising U.S. Treasury yields and elevated oil prices.
The S&P 500 gained 0.4% to finish at 7,674.39, while the Nasdaq Composite also rose 0.4% to 26,180.46. The Dow Jones Industrial Average outperformed, climbing 1% to 53,276.81. Despite Friday’s rebound, all three major indexes recorded weekly losses, with the S&P 500 down 1.4%, the Nasdaq falling 2.1%, and the Dow losing 0.9%.
Bond market volatility remained a key concern. The 30-year Treasury yield recently reached a 19-year high of 5.337%, while the 10-year yield hit a 52-week peak of 4.748%. On Friday, the 30-year yield rose to 5.273% and the 10-year yield climbed to 4.733%.
The Treasury Department attempted to ease pressure by increasing planned repurchases of long-dated government debt to at least $4 billion from $2 billion. Treasury Secretary Scott Bessent later indicated that buybacks could exceed $4 billion. However, concerns over inflation, higher oil prices and U.S. government debt surpassing $40 trillion continued to weigh on bonds.
Stocks received support from the S&P 500 materials sector, which jumped 2.2% as copper prices remained near record levels. London Metal Exchange copper settled at $14,036.50 per ton, while COMEX copper futures advanced 1.8% to $6.5823 per pound.
Crypto stocks also surged as Bitcoin and other digital assets extended their rally. Robinhood shares jumped 13.7%, while Coinbase gained 8.2%, placing both among the S&P 500’s strongest performers.
Economic data provided another boost. S&P Global’s flash U.S. business activity index climbed to 56.0 in August from 54.5 in July, beating expectations of 54.0 and marking the fastest expansion since April 2022.
Meanwhile, Middle East tensions kept energy markets elevated. Brent crude rose 0.2% to $93.92 per barrel and was headed for a weekly gain exceeding 5% as the U.S.-Iran standoff over the Strait of Hormuz continued.
Investors will now turn their attention to the Jackson Hole Economic Policy Symposium for fresh signals on the Federal Reserve’s interest-rate outlook.
