Overnight Market Brief – 11 October 2021

The Dow was little changed on Friday, notching a winning week as optimism about a short-term debt ceiling deal trumped a disappointing jobs report. The Dow Jones Industrial Average (-0.03%) dropped 8.69 points to 34,746.25. The S&P 500 (-0.2%) fell to 4,391.34. The technology-focused Nasdaq Composite (-0.5%) fell to 14,579.54. The VIX Index (-3.94%) declined to 18.77. The 10-year Treasury yield was around 1.57% on Thursday, and UBS sees it rising to 1.8% by the end of the year. Energy stocks plowed higher on Friday as West Texas Intermediate crude futures, the US oil benchmark, crossed U$80 per barrel on Friday for the first time since November 2014.

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