US stocks inch higher, but undermined by rising yields
US markets ended on Friday with mixed results, as elevated bond yields and high oil prices weighed on the market. The S&P 500 inched 0.2 percent higher after drifting between modest gains and losses for much of the day. The benchmark index also posted its second straight weekly loss. The Dow Jones Industrial Average slipped 0.2 percent, and the Nasdaq composite added 0.4 percent. All told, the S&P 500 rose 12.74 points to 7,650.50. The Dow dropped 95.40 points to 51,682.64, and the Nasdaq added 104.25 points to 26,552.55. The yield on the 10-year Treasury climbed to 5 percent from 4.94 percent late on Thursday after it topped the 5 percent level early this week for the first time since 2023. Yields have been climbing steadily since the pandemic knocked them nearly to zero in 2020. The price for a barrel of Brent crude, the international standard, rose nearly US$110 early this week, up from a little over US$70 in July. It briefly dropped below US$102 in overnight trading before settling at US$103.87. (AP) Edited by Robert Kemp
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