The S&P 500 broke a five-session losing streak. After cresting Monday just beyond 5% for the first time since 2007, meanwhile, the yield on the 10-year note settled at 4.840%.
Dramatic swings in government bonds have rattled financial markets recently and complicated the outlook for when the Federal Reserve may begin cutting interest rates.
Stocks advanced. The S&P 500, the Dow and tech-heavy Nasdaq moved higher. The Dow was up about 205 points.
General Electric, 3M and Coca-Cola stocks all finished higher after the companies raised their financial outlooks. GE climbed after saying it would shed its power business in 2024. (Here’s the Heard on the Street take on Coke’s results.)
Verizon leaped. The telecom giant rose about 9%, making it the Dow’s best performer, after boosting its forecast.
More earnings coverage: Check our latest on Spotify, RTX and General Motors. And here’s a look at how S&P 500 companies are doing so far, as a group.
Brent crude fell. The global oil benchmark dropped 2%, falling for a third straight session, to settle around $88 a barrel.
Bitcoin briefly surpassed $35,000. The cryptocurrency climbed before retreating, fueling crypto-related stocks.
Read More: Indexes Finish With Gains, Led by Nasdaq, as Earnings Season Heats Up