The S&P 500 edged higher and oil prices fell Friday as investors monitored geopolitical developments on the final day of Xi Jinping’s U.S. state visit. Trump said U.S.-China ties should promote prosperity and security; Xi called for “strategic stability.”
U.S. stocks finished mixed Thursday as investors weighed rising bond yields and crude prices against potential geopolitical developments. The 10-year Treasury yield reached 5.225%, its highest since 2007, while the 30-year yield hit 5.502%, its highest since 2004.
Capital.com analyst Kyle Rodda said geopolitical risk and bond-market volatility were roiling markets, while solid demand and robust corporate profits in Wall Street’s heavyweight sectors were providing support. He said geopolitical and monetary-policy uncertainty were limiting gains.
