US Stocks Climb Amid Earnings Assessment and Treasury Yield Fluctuations
US stocks reversed their losses to rise on Tuesday as investors monitored Treasury yields and evaluated corporate earnings. The gains came after earlier declines in major indices due to concerns over aggressive Federal Reserve policies. Microsoft led the technology sector upward, though rate-sensitive stocks faced challenges.
US stocks made a late recovery on Tuesday afternoon, reversing earlier losses as investors kept a close watch on rising Treasury yields and corporate earnings. The bounce back in the stock market was labeled as 'bargain hunting' by Steve Sosnick, head trader at IBKR Securities Services.
The Dow Jones Industrial Average rose 54.67 points to 42,986.27, and the S&P 500 edged up 1.39 points, reaching 5,855.37. Similarly, the Nasdaq Composite climbed 44.42 points to 18,583.92, as several sectors including consumer staples saw gains despite ongoing concerns over Federal Reserve policies.
Emerging from a backdrop of oscillating yields on the 10-year Treasury note, the market witnessed fluctuations driven by speculation around the Federal Reserve's future moves. Meanwhile, GE Aerospace shares saw a significant decline, while Microsoft led gains in the tech sector. Market volatility is expected to persist as investors analyze upcoming economic data and corporate earnings.
(With inputs from agencies.)
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