S&P 500 Wavers While Nasdaq Gains as Treasury Yields and Oil Prices Pull Back

U.S. stock markets opened higher on September 29 before turning mixed, with the Nasdaq outperforming as technology shares rallied while the broader S&P 500 slipped. The session marked a partial recovery after elevated Treasury yields dragged equities lower to start the week.

The 10-year Treasury yield, which had been hovering near multiyear highs, eased modestly during the session, offering relief to rate-sensitive growth stocks. Oil prices also pulled back, contributing to the softer tone in energy shares but removing a key inflation concern that had weighed on sentiment.

Traders remained cautious, keeping a close eye on further yield movements as the defining variable for near-term market direction. The day's price action reflected a market still navigating the tension between sticky borrowing costs and resilient corporate earnings expectations.