How rapidly rising Treasury yields are shaking up financial markets — in 5 charts
- Will 10-year Treasury yield hit 5% soon? Here’s what financial-market players say
- Stock market likely to correct if 10-year Treasury yield reaches 5%, RBC says
- U.S. bond market is sending recession warning, and Friday’s jobs report could hold the next clue, Jeff Gundlach warns
- Here’s a chart on one of the biggest factors behind rising yields this week
‘Bond king’ Bill Gross says investors should shun stocks and bonds. Here’s what he’s buying instead.
- One of the biggest problems plaguing the U.S. stock market is getting worse as selloff continues
- What the stock market selloff means for Biden’s re-election chances
- U.S. dollar is on the cusp of a historic winning streak. But how much longer can the rally last?
- Dow snaps three-day losing streak after softer-than-expected ADP jobs data
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Costco notches gain in same-store sales for September
Costco Wholesale Corp. COST on Wednesday said that total same-store sales rose 4.5% in September, better than the pace it reported for August and its fiscal fourth quarter. Same-store sales were up 3.2% in the U.S. and 6.7% in Canada through the five weeks ending Oct. 1. Elsewhere internationally, they climbed 10%. E-commerce sales rose 3.7%. Shares fell 0.2% after hours.
Hershey’s stock bounces back, set to snap longest losing streak in 25 years
Shares of Hershey Inc. HSY have reversed an earlier loss to be up 0.4% in afternoon trading, which puts them on track to snap the longest losing streak in 25 years. The chocolate seller’s stock had been down 1.3% at the intraday low of $194.64, which was hit at about 11 a.m. Eastern before launching its come back. The stock had dropped 6.7% over the past nine sessions to close Tuesday at a 20-month low of $197.18, which was the longest losing streak since the nine-session stretch that ended Dec. 18, 1998. The selloff comes amid fears of weak consumer spending, as interest rates push up borrowing costs and as student loan payments restart. The company is expected to report third-quarter results on or about Oct. 26, according to FactSet. If the stock pulls another U-turn in the final hour of the regular session and closes down, a 10-day losing streak would be the longest on record, based on available data going back to January 1972, according to Dow Jones Market Data. The stock has tumbled 21.4% over the past three months, while the Consumer Staples Select Sector ETF XLP has dropped 8.8% and the S&P 500 SPX has lost 4.8%.
