US stock trade mixed as key bond yields near 5% and oil spikes again on Middle East conflict fears

• US stocks opened mixed on Friday, as the 10-year Treasury yield hovered just below 5%. 
• Oil prices rose and are on pace for a second week of gains as conflict in the Middle East continues.
• A US Navy destroyer also shot down missiles launched from Yemen that could have been headed for Israel.

US stocks opened mixed on Friday as the yield on the 10-year Treasury hovered just below 5% while oil prices rose amid fears the Israel-Hamas conflict could spread.

Also boosting oil were forecasts for a widening supply deficit heading into 2024 and the Energy Department's announcement Thursday that it will buy 6 million barrels of crude to deliver to the Strategic Petroleum Reserve in December and January.