Dow Jones Extends Winning Streak Amid Treasury Yield Pressure

Despite rising U.S. Treasury yields impacting major technology stocks, the Dow Jones Industrial Average continued its winning streak, closing fractionally higher. However, the Nasdaq Composite and the S&P 500 ended slightly in negative territory. The absence of significant market catalysts saw investors focus on bond yields and megacap tech stock performances.

Despite rising U.S. Treasury yields putting pressure on major technology stocks, the Dow Jones Industrial Average maintained its momentum, closing slightly higher on Thursday. This marks its fifth consecutive session of gains, as markets witnessed light trading volumes.

The Nasdaq Composite and S&P 500, however, showed minor declines, breaking their streaks of higher closes. This shift was influenced by investors' response to increasing yields on U.S. government bonds, particularly the benchmark 10-year Treasury note, which reached a high of 4.64% earlier in the day.

In the face of limited market catalysts, attention remained on megacap tech stocks. Six out of the seven leading tech companies saw declines, with Tesla dropping the most. Apple was an exception, edging closer to a market valuation milestone of $4 trillion.

(With inputs from agencies.)