Wall St eyes lower open after jobs data, worries over higher Treasury yields remain
© Reuters. FILE PHOTO:Traders work on the floor of the New York Stock Exchange in New York City, U.S., September 28, 2023. REUTERS/Brendan McDermid/File Photo
Although longer-dated U.S. Treasury yields eased from 16-year highs on Wednesday, investors remain concerned that the elevated levels may continue to pressure equities.Worries about U.S. government spending and its ballooning budget deficit have added to uncertainty around the interest rates trajectory, contributing to a steep selloff that have caused a rout in Treasury prices.
The Labor Department's report on Thursday showed the number of Americans filing new claims for unemployment benefits rose moderately last week, while layoffs declined in September, pointing to still tight labor market conditions.
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