Daily Market Commentary

Trucks carrying aid from Egypt were unable to cross into Gaza Tuesday to supply Palestinians running out of water, medicine, and food supplies ahead of a widely expected Israeli ground invasion against Hamas militants. More than 100 vehicles transporting everything from medical supplies to blankets, canned food and baby formula had moved from the Egyptian city of El-Arish to Rafah earlier Tuesday.

US President Joe Biden is considering a trip to Israel as part of a global diplomatic push to prevent the war from spreading in the Middle East.

Import prices came in below expectations in September — largely driven by nonfuel items — suggesting continued progress on disinflation in the goods sector.

US consumer prices advanced at a brisk pace for a second month, reinforcing the Federal Reserve’s intent to keep interest rates high and bring down inflation.

US mortgage rates advanced last week to the highest level since 2000, keeping a lid on home-buying activity.

Stocks rose as Treasury yields fell after comments from Federal Reserve officials bolstered speculation the central bank is heading toward another pause in interest rate hikes.

US employment unexpectedly surged in September, illustrating a durable labor market and bolstering the case for another Federal Reserve interest-rate hike.

Applications for US unemployment benefits remained historically low last week, highlighting ongoing strength in the labor market.

Ten-year Treasury yields slipped four basis points to below 4.8%, after jumping 30 basis points this week. US companies added the fewest number of jobs since the start of 2021 in September, suggesting labor demand in several industries is slowing.

Stocks slumped while the retreat in Treasuries deepened as investors grow increasingly worried about the long-term effects of historically high borrowing costs.