10-Year Yield Ends Week at 5.14%, Stocks Rise Anyway

Markets are closed today; the next session opens Monday, November 16, at 9:30 a.m. ET (5:30 p.m. in Istanbul). The week's defining number came from bonds: the U.S. 10-year Treasury yield closed Friday at 5.14%. Its 28 basis point weekly gain was the largest since April 2025.

That was Friday's benchmark, and the answer is now clear. Despite a softer-than-expected PPI, the yield held above 5.1% and rose 0.6 basis points on the day. The 2-year yield slipped 3.2 basis points Friday but finished the week 34 basis points higher at 4.85%.

The jump in yields did not stop stocks. The S&P 500 ended the week up 2.51% and the Nasdaq 100 up 3.53%. The market did not read it as a new rate shock, because a 25 basis point December hike is already fully priced.

The last session (Friday, November 13) brought selling in tech. SPY, which tracks the S&P 500, fell 0.36% and the small-cap IWM fell 0.32%; the Dow fund DIA rose 0.13%. The Nasdaq Composite closed down 0.91% at 25,136.27.

Nvidia was again at the center of the selling. The stock ended the week down 12.75%. The company reports third-quarter earnings after the close on Tuesday, November 17, its first under interim CEO Colette Kress.