Stability in 10-year Treasury yields lifted stock indexes Tuesday amid a crowded slate of earnings reports, with Alphabet, Google’s parent company, and Microsoft Inc. announcing after the closing bell.
The S&P 500 broke a five-session losing streak. After rising Monday to just over 5% for the first time since 2007, the 10-year bond yield settled at 4.840%.
Dramatic swings in government bonds have rattled financial markets recently and heightened expectations about when the Federal Reserve might start cutting interest rates.
Stocks advanced. The S&P 500, Dow Jones and tech-heavy Nasdaq rose. The Dow Jones index rose by about 205 points.
General Electric, 3M And coca cola All stocks ended higher After companies raised their financial forecasts. General Electric rose after it said it would divest its energy business in 2024. (Here’s Hurd on the Street’s report on Coca-Cola’s results.)
Verizon jumped. The giant telecommunications company’s shares rose by about 9%, becoming the best performer on the Dow Jones Index, after enhancing its expectations.
More earnings coverage: Check out our latest on Spotify, RTX, and GM. Here’s a look at how the S&P 500 companies have performed as a group so far.
Brent crude fell. The global benchmark fell 2%, falling for the third straight session, to settle around $88 per barrel.
Bitcoin briefly surpassed $35,000. The cryptocurrency rose before pulling back, fueling crypto-related stocks.
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