Daily Bulletin · Thursday, October 8, 2026 · pre-market

Stocks slip as Treasury yields climb to two-decade highs

S&P 5007,800.26−0.25%Nasdaq27,534.01−0.25%10Y5.28%+0.01WTI$89.91−0.33%Gold$4,108.10−0.06%VIX14.98−0.20%

In brief

Yields bite: The S&P 500 fell -0.25% as Treasury yields rose to levels not seen in more than two decades.¹
Fed eyes more: Fed minutes showed officials expect more rate hikes but gave no timing, keeping borrowing costs in focus.²
Oil risk returns: Oil rose on a warning that Iran appeared to be stepping up attacks in the Strait of Hormuz.³

What it means

Higher rates hit two corners at once: banks fell on lending worries, and tech slipped on fears that costlier funding could slow the AI buildout.¹ The 10-year yield ended at 5.28%, up +0.01 pts, after a solid 10-year auction pulled it off its high.² Futures are lower before the open, with S&P 500 futures at -0.42% and Nasdaq 100 futures at -0.36%.

The day in review and where money is flowing

Even after the dip, the S&P 500 is up +1.91% on a 5-day basis and the Nasdaq 100 is up +2.43%. In Metravise's one-month view, Technology leads the market by +1.1 pts, powered by Semiconductor Equipment & Materials at +16.6 pts and Semiconductors at +13.3 pts, while Financials and Energy lag. The Metravise Portfolio moved -0.57% in the last session, a bit more than the broad market.

Chips: strike vote, new partner

A union of Micron workers in Taiwan voted to strike, a supply-side risk inside the market's strongest industry group.⁴ In Electronics & Computer Distribution, TD SYNNEX signed a deal letting its U.S. IT reseller partners offer SignWell's eSignature platform.⁵

Market mood

The VIX sits at 14.98, in calm territory, and moved -0.20% despite the selloff. The equity put/call ratio's 5-day average of 0.59 is in the average zone, suggesting investors are not rushing for downside protection.

What to watch today

Times are US Eastern (ET).

00:15
US index futures (futures, not the session)Versus the prior close, S&P 500 futures are -0.42% and Nasdaq 100 futures -0.36%; these are futures prices, not the session. The US session opens at 9:30 ET.
Thu 04:30
Fed Governor Christopher J. Waller speaks — Economic OutlookWaller speaks right after minutes signaling further hikes; a hawkish tone is generally read as support for higher yields.²
Thu 08:30
Initial jobless claims (weekly)A lower-than-expected claims figure is generally read as a sign of a tight labor market, which can add to rate-hike worries.
Thu
GoldMining Inc. (GLDG) earningsGoldMining reports after a positive preliminary economic assessment for its São Jorge Project in Brazil, with exploration spending up.⁶
Thu
30-year Treasury auctionAfter a solid 10-year sale, the Treasury's 30-year bond auction is another test of demand for long-term debt.²

Metravise Portfolio

PortfolioWednesday change−0.57%
—No entries or exits in the last session.

Metravise is an educational research platform — this bulletin is not investment advice. News summaries are based on the footnoted sources; numbers are Metravise data. Past performance is not indicative of future results.

Sources

S&P 500 retreats from record as elevated yields keep traders on guard: Live updates — CNBC · Oct 8
10-year Treasury yield backs off from 24-year high after solid bond auction eases demand fears — CNBC · Oct 8
Live Updates: Vance seems to soften Iran nuclear demands, Rubio says Tehran has "lost control" of Strait of Hormuz — CBS News · Oct 8
Micron Technology, Inc. Stock Quote Price and Forecast — CNN · Oct 8
SignWell Partners With TD SYNNEX to Scale Enterprise-Grade eSignature Platform Across Partner Ecosystem — GlobeNewswire · Oct 7
GoldMining Inc (GLDG) — Morningstar · Oct 7