U.S. stocks climb, Treasury yields rise as investors await Powell

U.S. stocks opened marginally higher Thursday, struggling to reverse losses from earlier in the week, while Treasury yields rose as investors waited to hear from Federal Reserve Chairman Jerome Powell.

Still, investors remained focused on bond yields as the 10-year Treasury yield rose, BX:TMUBMUSD10Y moving to within a few basis points of 5%, its highest level since the summer of 2007. It was up roughly 3 basis points on the day, according to FactSet data. Other Fed officials making comments on Thursday include Chicago Fed President Austan Goolsbee speaking in Madison, Wisconsin at 1:20 p.m., and Fed Vice Chair for Supervision Michael Barr speaking at a Boston Fed conference at 1:30 p.m.

Existing home sales and leading economic indicators, both covering September, will be released at 10 a.m.

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