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Good afternoon. For a few hours this morning, the bond market looked like it was about to ruin everyone's October. Then it blinked, and stocks climbed back into the green.

Today's close

S&P 5006,671.06▲ +0.24%
Nasdaq22,660.01▲ +0.25%
Dow46,441.10▲ +0.09%
10-Year5.272%▼ -6.2 bps
Bitcoin$84,092▼ -0.4%
Oil$71.53▲ +4.8%

Stocks: Investors shrugged off a 24-year high in Treasury yields as AI enthusiasm kept Wall Street remarkably resilient.

Bonds: The 10-year Treasury yield touched 5.34%, its highest since 2002, before pulling back. Mortgage rates followed it up to 7.28%, the biggest one-week jump since 2022.

Oil: Crude jumped nearly 5% after China suspended fuel exports, adding another worry for anyone watching inflation.

Stock of the day

Accenture +15.8%: The consulting giant beat expectations and booked a record $84.5 billion of new work this year.