US stocks slipped after the opening bell on Thursday, September 24 as oil prices continued to gain and 30-year Treasury yields rose to its highest since 2004.
Nasdaq Composite fell 0.78% to 26,726.42, S&P 500 declined 0.44% to 7,672.46, while Dow Jones Industrial Average slipped 0.38% to 51,318.16 by 9:31 am ET or 7:01 pm IST.
The 30-year Treasury yield rose more than 3 basis points to 5.438%, its highest level since 2004. The benchmark 10-year yield climbed to 5.139%, its highest since July 2007, while the two-year yield touched 4.897%, the highest since 2023.
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Global crude oil prices climbed nearly 3% on Thursday hitting $106 per barrel once again since last week amid US-Iran uncertainties. Oil prices had cooled off for a brief period after US envoy Steve Witkoff and Iranian foreign minister Abbas Araghchi conducted talks on the sidelines of UNGA to discuss potential peace plans. Global benchmark Brent crude steadied around $105 per barrel after climbing nearly 2%, while the West Texas Intermediate was up 2% at $93.80 per barrel, as of 7:24 p.m. IST.
Meanwhile, investors will also focus on upcoming Trump and Xi talks this week. Xi's visit comes on the backdrop of a fragile US-China trade truce and tariffs rleated negotiations, rare-earth exports and broader economic ties. The two leaders are also expected to discuss issues related to artificial intelligence and other areas of strategic importance.
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