10-Year Yield Tops 5%, Oil Storms Past $105: Stock Market Today
The 10-year Treasury yield broke 5% for the first time since 2007 as WTI surged past $105 on Saudi pipeline outages, pressuring stocks ahead of the Fed.
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Stock of the Day: Did APA Corporation Break Major Resistance?
APA shares may have broken longstanding $45 resistance, a bullish signal suggesting sellers are exhausted and a new uptrend could begin.
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Shares of oil and gas companies are trading higher amid a rise in crude after reports suggesting that Saudi Aramco deferred and cancelled some September crude cargoes meant for European refiners after the closure of its East-West pipeline to the Red Sea. Also, ongoing Saudi strikes on Yemen's Houthi rebels and a tight global diesel market are helping to support crude prices.
Seaport Global Initiates Coverage On APA with Neutral Rating
Seaport Global analyst Vin Lovaglio initiates coverage on APA (NASDAQ:APA) with a Neutral rating.