U.S. equity indexes displayed a mixed performance as the latest job openings data caused government bond yields to rise. The S&P 500 experienced a slight uptick of 0.1%, reaching 5,829.4, while the Nasdaq Composite gained 0.4% to settle at 18,640.7. Conversely, the Dow Jones Industrial Average decreased by 0.3%, landing at 42,279.8.
The utilities and energy sectors saw significant declines, while communication services and technology stocks were among the gainers. Investors are anticipating quarterly earnings reports from major corporations, including Alphabet, Advanced Micro Devices, Apple, Microsoft, Amazon.com, and Meta Platforms, all due after the market bell throughout the week. Recent statistics reveal that U.S.
job openings decreased to 7.443 million in September, as reported by the Bureau of Labor Statistics. This figure was below the anticipated 8 million and marks a decline from August's 7.861 million. The September data reflects 4.5% of total employment, dipping from 4.7% in August and down from 5.6% a year prior. Most U.S.
Treasury yields rose during the day, with the 10-year yield climbing 4.6 basis points to 4.32%, its highest level since early July. The two-year yield also saw an increase of 1.2 basis points, reaching 4.15%, though it remained near its highest point since early August. In other economic developments, the Conference Board reported a rise in consumer confidence to 108.7 in October, up from 99.2 in September, surpassing the forecast of 99.5.
Chief Economist Dana Peterson noted, "Consumer confidence recorded the strongest monthly gain since March 2021, but still did not break free of the narrow range that has prevailed over the past two years." In the realm of business services, the Dallas Federal Reserve's index rebounded to 2.0 in October from a previous minus 2.6 in September, indicating economic expansion.
This aligns with data from other regional Federal Reserve Banks while contrasting with a contraction signal from the New York Fed. On the corporate side, Cadence Design Systems experienced a remarkable 12% increase in stock price after announcing stronger-than-expected third-quarter results, positioning it as the top performer in both the S&P 500 and Nasdaq indexes. In contrast, D.R.
Horton ranked as the worst performer, down 9.5% after revealing a decline in fiscal Q4 net income and revenue compared to the previous year, along with disappointing sales guidance for fiscal 2025. PayPal's third-quarter revenue fell short of expectations, and despite surpassing earnings forecasts, its shares dropped 4.1%, marking the steepest decline on the Nasdaq.
On the commodities front, West Texas Intermediate crude oil slipped 0.4% to $67.12 per barrel. Gold and silver prices saw gains, with gold rising 0.9% to $2,781.11 an ounce and silver jumping 1.5% to $34.51 an ounce..