Stocks go nowhere as 10-year gets really close to 3%
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Here's the scoreboard:Dow Jones Industrial Average: 24,438.85 −24.09 (-0.10%)
S&P 500: 2,667.25 −2.89 (-0.11%)
AUD/USD: 0.7606 -0.0067 (-0.87%)
ASX 200 SPI futures: 5,879.5 +45 (+0.77%)
- Earnings season rolls on. Google-parent company Alphabet reported earnings that slightly outpaced expectations. Shares of the company, which were down earlier in the day, are whipsawing following the report.
- The 10-year Treasury yield is approaching 3% - a key level that could rattle markets and that hasn't been seen since January 2014. It hit 2.981% around 11:30 a.m. ET.
- The Mexican peso continued a deep slide as markets further mulled the possibility of leftist candidate Andres Manuel Lopez Obrador winning the July presidential election. It has shed nearly 5% versus the dollar over the past week.
- Oil prices rallied to three-year highs, even after Iran said OPEC cuts could expire in December. Fears that the Trump administration will slap sanctions on Tehran and new reports of falling crude inventories helped counter Iran's announcement.
- Aluminum prices dove off of a seven-year high after the US Treasury Department said it might offer sanctions relief to a top Russian supplier of the metal.
Here is Tuesday's economic calendar: