Unless the yield on the 10-year Treasury retreats to near 4.35%, Turnquist said he sees a 'challenging and maybe choppy market as we look ahead for October.' we're still fighting against an uptrend in longer-duration yields.' 'There's early signs that we're seeing technically here of a capitulation, but. 'Rates are still in the driver's seat, and that's really the rebound that we're seeing since last Friday,' said Adam Turnquist, chief technical strategist at LPL Financial. Yields and prices have an inverted relationship. The 2-year Treasury yield was about 1 basis point lower at 5.05%. The yield on the 10-year Treasury was down by roughly 9 basis points at 4.62%.

Investors also kept an eye on Treasury yields. Gold futures, which settled higher by 3.11%, had their best day of the year, dating back to Dec. West Texas Intermediate crude futures and international benchmark Brent crude futures each settled more than 5% higher, posting their best day since April 3. The S&P 500 hit its low of Friday's trading session as oil prices spiked on fears that the Israel-Hamas war could escalate geopolitical tensions in the Middle East.

According to the University of Michigan's closely watched survey, preliminary consumer sentiment data slumped in October while inflation expectations spiked. Stocks came off their session highs after consumer sentiment data was released earlier Friday. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower

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