Dow falls as US stocks trade mixed amid high Treasury yields and oil prices

• The 10-year Treasury yield held at 5.30% and 30-year at 5.66%, both near multi-year highs, while Brent crude traded at $101.88 per barrel amid Gulf supply disruption concerns
• Chip stocks dragged with Intel down 2.4% and Micron falling 0.83%, while PTC surged 35.7% on acquisition news and RXO rose 23% on a $5.8 billion deal with C.H. Robinson
• Goldman Sachs expects median S&P 500 earnings to grow 9% year-over-year this quarter, with 70% of the index's market cap reporting by end of October

Market Summary

Market Performance:

US stocks traded mixed on Monday, October 5, 2026, with the Dow Jones falling 98 points while the S&P 500 rose 0.2% and the Nasdaq Composite gained 0.43%. This subdued session followed Friday's record Nasdaq high driven by weak jobs data that reduced October rate hike expectations.

Key Sector Movements:

Technology stocks eased from recent highs, with chip manufacturers particularly weak. Intel dropped 2.4% and Micron declined 0.83%. Conversely, individual stocks saw significant gains: PTC surged 35.7% following a buyout valued at $22.6 billion equity, RXO jumped 23% on C.H. Robinson's $5.8 billion acquisition agreement, and Cerebras gained on positive comments from OpenAI's Sam Altman.

Treasury Markets:

Yields remained elevated with the 10-year Treasury at 5.30% and the 30-year at 5.66%—multi-year highs reflecting inflation concerns and heavy government debt issuance. The Federal Reserve raised rates 25 basis points last month, with markets pricing an 80% probability of unchanged rates at the October meeting. The Fed's September meeting minutes, due Wednesday, will provide further policy clarity.

Energy Markets:

Oil prices hovered near $100 amid Gulf supply disruption concerns. Brent crude traded at $101.88 (down 0.3%) and WTI at $89.32 (down 1.93%). Elevated energy costs raise inflation concerns and complicate Fed policy decisions.

Earnings Outlook:

Approximately 70% of S&P 500 market capitalization will report by end-October. Goldman Sachs forecasts 9% year-over-year median earnings growth. Monday's ISM services report will provide additional economic insight.