Wall Street ends the week higher as SpaceX rattles US telecoms, consumer mood sinks and bond yields stay near 5.24%
US stocks closed higher on Friday 9 October: the S&P 500 at 7,811.54 (+0.59%), the Nasdaq Composite at 27,366.17 (+0.64%) and the Dow at 51,654.95 (+0.83%), per exchange closing data. SpaceX announced on Thursday that it would buy low-band spectrum for Starlink Mobile (CNA, Bloomberg). US telecom groups lost about US$45 billion in value (FT), Verizon was heading for its worst day since 2002 (CNBC) and Deutsche Telekom fell 7 per cent (Reuters). The University of Michigan consumer sentiment index fell to 46.3 in October (FXStreet), and sentiment worsened further (Reuters). Pimco's Ivascyn told the FT the 10-year yield risks reaching 6 per cent for the first time since 2000 (Reuters). Money market funds drew huge inflows during the bond selloff (CNA).
Rising Treasury yields raise borrowing costs worldwide and pull money out of equities. Weak consumer mood adds to doubts about growth while oil stays high.
US yields influence SORA-linked home loans, bank shares and the Singapore dollar. Investors in STI funds should expect Monday's open to reflect Friday's US moves.
Corporate earnings and AI demand remain strong, and a drop in oil on Iran talks eased some inflation worries.
Yields near 5.24 per cent, weak sentiment and a possible 6 per cent warning leave little cushion if earnings disappoint.
Watch next week's US inflation data, the 10-year yield against the 5.24 per cent level, and whether the telecom selloff spreads. Oil is the swing factor.
DailyDrop Singapore edition No. 6 · Morning · SAT., OCT. 10, 2026