The S&P 500 rose Wednesday, clawing back some of its losses from the prior day’s rout as traders scooped up discounted shares.

Major indexes fluctuated during a choppy trading session as bond yields appeared to stabilize before resuming their upward march. 

The S&P 500 added 6.83 points, or 0.2%, to 4359.46, after dropping 2% Tuesday in its worst one-day performance since May. The Dow Jones Industrial Average advanced 90.73 points, or 0.3%, to 34390.72. The tech-heavy Nasdaq Composite, meanwhile, slipped 34.24 points, or 0.2%, to 14512.44.

Closely watched bond yields continued to rise. The yield on the benchmark 10-year U.S. Treasury note rose for a seventh consecutive trading day, climbing to 1.540% Wednesday—its highest close since June—from 1.534% Tuesday.

The stock market has rocketed higher in 2021, leaving the S&P 500 up 16% for the year even after the recent volatility….

Read more…


Comments are closed.