Stocks Pare Session Losses to Start October Near Breakeven

Wall Street struggled to find its footing on the first day of October, as elevated crude prices and resurgent Treasury yields kept investor enthusiasm in check. The 10-year Treasury yield traded as high as 5.34% early this morning, hitting highest level since 2002, while the 30-year note hit a 24-year high.

This triggered a midday market setback, with more pressure added by a lackluster response to Micron Technology's (MU) Q4 beat. The Dow shed more than 440 points at its session low, but finished just above breakeven alongside the S&P 500 and Nasdaq. The small cap Russell 2000 Index (RUT) outperformed the broader market, climbing 0.4%.

• Bears circled these 3 biotech stocks today. 
• DAL is under pressure ahead of next week's earnings report. 
• Plus, two stocks reacting to blowout earnings and 10 potential short squeeze plays. 

5 Things to Know Today

1. Two more ETFs to target in October and the fourth quarter.
2. Schaeffer's Weekly Options Countdown has a new deal running.
3. Why Micron stock shrugged off its impressive earnings. 
4. Accenture shares gapped higher thanks to record bookings. 
5. 10 stocks ripe for a short squeeze.

Oil Continues Climb Above $92

Oil prices gained pace Thursday after reports of the U.S. sending a third aircraft strike to the Middle East. West Texas Intermediate (WTI) crude rose 2.7% to settle at $92.87 per barrel.

A strengthening U.S. dollar and higher bond yields weighed on gold prices, though softer-than-expected inflation data kept the precious metal stable for the session. December-dated futures inched 0.4% higher to settle at $4,205.10 per ounce.