More than half of the firms listed on the S&P 500 have reported second quarter earnings as of Friday, out of which 78.7% have surpassed analyst expectations, according to Refinitiv data.On Thursday, the blue-chip Dow snapped its longest winning streak since 1987 as U.S. Treasury yields pressured stocks after news that the Bank of Japan will allow long-term interest rates to rise.
The Bank of Japan made its yield curve control policy more flexible and loosened its defense of a long-term interest rate cap, in moves seen by investors as a prelude to an eventual shift away from massive monetary stimulus. The yield on the U.S. 10-year note slipped from 4% hit in the previous session, lifting megacap growth and technology stocks sharply higher. All three major U.S.
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