Market Volatility: Retail Sales Boost Yields, Banks Brace for Earnings Flood

The Nasdaq, S&P, and Dow all opened lower after a strong start to the week, with the Nasdaq down 0.4%, the S&P 500 down 0.1%, and the Dow down 0.1%. Yields continued to rise, with the 10-year Treasury yield up 12 basis points to 4.83% and the 2-year yield up 9 basis points to 5.18%. September retail sales showed a strong consumer, with monthly figures exceeding expectations at +0.7% M/M. Industrial production figures for September also came in higher than forecasted at +0.3%.