Stocks Rally as Treasury Yields Slip Amid Earnings Season

U.S. stock indexes rose as Treasury yields declined, easing pressure on major tech stocks. Tesla led gains with a 3.1% rise, contributing to the positive momentum. Earnings reports and the upcoming U.S. presidential election are crucial for investors. Capri Holdings fell after a merger block, while Centene saw a profit jump.

The U.S. stock market experienced an upswing Friday as key indexes rose when Treasury yields dipped, providing relief to megacap stocks. Investors keenly await next week's earnings reports from major firms amid election uncertainties.

Tesla led gains with shares climbing 3.1%, fueled by positive sales forecasts. Meanwhile, Apple shares rebounded 0.5% after initial drops. The upcoming earnings of Alphabet, Apple, and Microsoft, along with the nonfarm payroll report, are vital for Wall Street as the November election nears.

Capri Holdings tumbled 44.8% following a U.S. judge's decision to block a merger with Tapestry. Conversely, Centene saw an 11.9% rise after exceeding third-quarter profit expectations. Investors remain cautious due to a turbulent economic landscape and shifting political dynamics.

(With inputs from agencies.)