Morning BriefNo. 57
10-year yield rises to 4.95%; S&P 500 rises as the Dow lags
In Tuesday's session, the Nasdaq Composite added 0.8%, gold settled at $3,940.40 an ounce, and WTI crude fell to $96.09 a barrel.
- S&P 5007,568.92▲ +0.36%
- Nasdaq25,372.01▲ +0.83%
- Dow51,786.72▼ −0.38%
- 10-yr yield4.95%▲ +4 bp
- EUR/USD$1.1179▼ −0.33%
- Gold$3,940.40▼ −0.74%
- WTI crude$96.09▼ −0.38%
- Bitcoin$76,934▼ −0.17%
Stocks
The S&P 500 advanced 0.36% to 7,568.92. The tech-heavy Nasdaq Composite rallied 0.83%, while the Dow Jones Industrial Average declined 0.38% to 51,786.72.
The S&P 500 has gained 10.6% so far in 2026 and stands 3.2% below its record close of 7,818.93, set on October 6, 2026. The Cboe Volatility Index, which tracks expected swings in the S&P 500 over the next 30 days, retreated to 20.83, above its long-run average of about 19.4.
Rates
The 10-year Treasury yield rose 4 basis points to 4.95%. The 2-year yield, which tracks expectations for the Fed's policy path more closely, edged up 2 basis points to 4.61%. At the long end, the 30-year yield moved up to 5.32%.
That left the 10-year yield 34 basis points above the 2-year. Freddie Mac's latest weekly survey put the average 30-year fixed mortgage rate at 7.24% (October 29). The 3-month Treasury bill yielded 4.21%.
Source: U.S. Department of the Treasury, Federal Reserve Bank of St. Louis.
Currencies
The euro retreated 0.33% to $1.1179 in the European Central Bank's daily reference rates, while the dollar edged up 0.25% against the yen to ¥158.29 and the British pound edged down to $1.3411. Overall, the dollar strengthened against six of the nine major currencies we track. The biggest move came from the Mexican peso, which rose 0.66% against the dollar. The euro has lost 4.9% against the dollar this year.
Commodities and bitcoin
U.S. crude oil (WTI) eased 0.4% to $96.09 a barrel, while Brent, the international benchmark, fell 1.1% to $103.60 a barrel.
U.S. natural gas futures advanced 1.4% to $2.895 per million British thermal units. Gold lost ground 0.7% to $3,940.40 an ounce, and silver slid 2.2% to $49.75 an ounce. Copper, often watched as a barometer of industrial demand, fell 2.5% to $6.402 a pound.
Bitcoin edged down 0.2% to $76,934.
On the calendar
No major U.S. economic releases are scheduled today.
Coming up
- Fri Nov 68:30 a.m.Jobs report (Employment Situation)Bureau of Labor Statistics
- Tue Nov 108:30 a.m.Consumer Price Index (CPI)Bureau of Labor Statistics
- Fri Nov 138:30 a.m.Producer Price Index (PPI)Bureau of Labor Statistics
Chart of the day
Source: U.S. Bureau of Labor Statistics.
Job openings declined to 7.19 million in August from 7.34 million in the prior month. That is up from 6.92 million a year earlier. Over the past 8 years it has ranged from 4.61 million (April 2020) to 12.30 million (March 2022).
What it measures. The number of unfilled positions that employers are actively recruiting for, from the BLS Job Openings and Labor Turnover Survey.
Why it matters. Openings measure the demand side of the labor market. Comparing them with the number of unemployed people shows how tight or loose hiring conditions are.
The numbers
| Instrument | Last | Chg | % | ||
|---|---|---|---|---|---|
| Stocks | |||||
| S&P 500 | 7,568.92 | +27.52 | +0.36% | ||
| Nasdaq Composite | 25,372.01 | +207.65 | +0.83% | ||
| Dow Jones Industrial Average | 51,786.72 | −197.26 | −0.38% | ||
| Russell 2000 | 2,812.45 | +6.57 | +0.23% | ||
| Cboe Volatility Index | 20.83 | −0.32 | −1.51% | ||
| Treasury yields | |||||
| 3-month Treasury bill | 4.21% | 0 bp | — | ||
| 2-year Treasury | 4.61% | +2 bp | — | ||
| 5-year Treasury | 4.74% | +4 bp | — | ||
| 10-year Treasury | 4.95% | +4 bp | — | ||
| 30-year Treasury | 5.32% | +4 bp | — | ||
| Currencies | |||||
| Euro (EUR/USD) | $1.1179 | −0.0037 | −0.33% | ||
| Japanese yen (USD/JPY) | ¥158.29 | +0.39 | +0.25% | ||
| British pound (GBP/USD) | $1.3411 | −0.0009 | −0.06% | ||
| Chinese yuan (USD/CNY) | 6.6723 | +0.0240 | +0.36% | ||
| Canadian dollar (USD/CAD) | 1.3975 | +0.0001 | +0.01% | ||
| Swiss franc (USD/CHF) | 0.8199 | +0.0003 | +0.04% | ||
| Australian dollar (AUD/USD) | $0.6984 | −0.0024 | −0.35% | ||
| Mexican peso (USD/MXN) | 18.5974 | −0.1223 | −0.65% | ||
| Commodities | |||||
| WTI crude oil | $96.09 | −0.37 | −0.38% | ||
| Brent crude oil | $103.60 | −1.17 | −1.12% | ||
| Natural gas | $2.895 | +0.039 | +1.37% | ||
| Gold | $3,940.40 | −29.20 | −0.74% | ||
| Silver | $49.75 | −1.13 | −2.23% | ||
| Copper | $6.402 | −0.165 | −2.52% | ||
| Digital assets | |||||
| Bitcoin | $76,934 | −127 | −0.17% | ||
Closing levels for November 3, 2026. Yields in percent; changes in basis points (bp). Currencies are ECB reference rates. Commodities are front-month futures settlements.
Worth reading
Selected coverage from other publishers, chosen for relevance to today's markets.
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Diurna briefs are compiled from official and exchange data by our publishing system using fixed editorial rules; they describe market moves and do not speculate about causes. This is not investment advice. How we produce the Daily Brief.