Major indices pulled back from record highs as Treasury yields climbed and oil prices spiked on Middle East tensions. The S&P 500 and Nasdaq each fell 0.22%, while the Dow dropped 0.66%. Investors digested Fed minutes showing broader debate on rate policy amid persistent inflation concerns.
→ ECB decision and 30-year Treasury auction Thursday; escalating Middle East tensions and oil trajectory could trigger further yield spikes if supply disruptions persist.
→ Earnings season intensity picks up with earnings from Applied Digital and Delta Air Lines amid energy price volatility; key AI-dependent companies under pressure.
→ Fed speakers and inflation data flow; market expects October Fed decision to hinge on labor market softness versus persistent supply-side oil shocks and sticky long-end yields.