U.S. stocks finished higher on Monday, led by gains in technology shares as the S&P 500 and the Nasdaq Composite regained their footing following a losing week on Wall Street, while Treasury bonds resumed their selloff ahead of a speech by Federal Reserve Chair Jerome Powell later this week. The Nasdaq Composite COMP, +1.56% jumped 1.6% to book its best day since July 28, while snapping its four-day losing streak, according to Dow Jones Market Data. The S&P 500 SPX, +0.69% advanced 0.
jumped 8.5% as investors awaited the chipmaker to report earnings Wednesday after the bell. Tesla TSLA, +7.33% stocks also rebounded to end a six-day losing streak after brokerage Baird Equity Research added the stock to its “best ideas” list. Treasury yields continued to rise on Monday with the yield on the 10-year Treasury TMUBMUSD10Y, 4.336% up 8.8 basis points to 4.339%. The rate closed at its highest level since Nov. 6, 2007, according to Dow Jones Market Data.
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