New York stock market's three major indexes start rising, influenced by falling government bond interest rates

(Seoul = Yonhap News) Reporter Jeong-won Yoon, Yonhap Infomax = The three major stock indices of the New York Stock Exchange started rising thanks to the decline in government bond interest rates.

As of 9:56 a.m. on the 3rd (local time), the Dow Jones Industrial Average on the New York Stock Exchange recorded 53,487.28, up 425.33 points (0.80%) from the previous day. The Standard & Poor's (S&P) 500 index stood at 7,708.13, up 41.53 points (0.54%) from the previous day, and the Nasdaq Composite Index stood at 26,414.10, up 196.28 points (0.75%) from the previous day.

The decline in U.S. Treasury yields boosted investment sentiment.

On this day, U.S. Federal Reserve (Fed) Director Christopher Waller attended the Next Newsmaker event held in Washington, D.C. and said regarding inflation, "Recent indicators suggest that we are finally seeing some signs of disinflation."

He continued, “If this trend continues in the indicators released over the next two weeks, I will be inclined to support maintaining the federal funds rate (FFR) target range at the current level.”

Director Waller's dovish remarks led to a downward trend in U.S. Treasury yields.

The U.S. 10-year Treasury bond interest rate fell to 4.730% during the day.

“We are confident that we will see new disruptions over the remainder of the year, but one of the disruptions we are less concerned about is rising bond yields,” said Benjamin Jones, head of global research at Invesco.

Looking at each industry, finance and utilities showed strength, while materials and healthcare showed weakness.

Broadcom's stock price fell 6.35% as it released lower-than-expected sales guidance for the fourth quarter. Broadcom's fourth quarter sales forecast was $34.8 billion, which was lower than the market expectation of $35.03 billion.

Snowflake's stock price soared 20.86% thanks to the earnings surprise. Snowflake's second quarter earnings per share (EPS) and sales were $0.62 and $1.55 billion, respectively, significantly exceeding the starting estimates of $0.45 and $1.48 billion.

Moderna's stock price fell 3.15% as its investment opinion was downgraded by Rothschild & Co. Redburn. Rothschild & Co. Redburn evaluated Moderna's stock price as overvalued in relation to its sharp rise following the success of clinical trials of an experimental vaccine targeting melanoma and presented its investment opinion as 'sell' on Moderna.

European stock markets generally showed an upward trend.

The Euro STOXX 50 index is trading at 6,370.42, up 0.13% from the previous day. Britain's FTSE 100 index and Germany's DAX index rose 0.70% and 0.50%, respectively. France's CAC40 index fell 0.07%.

International oil prices rose.

At the same time, the price of West Texas Intermediate (WTI) crude oil for delivery in October 2026, which is a nearby contract, is recording $92.09 per barrel, up 1.19% from the previous price.