Oct 24 - U.S. stocks rose on Tuesday as a selloff in U.S. Treasuries eased, while upbeat forecasts from Verizon, Coca-Cola and others boosted optimism about corporate America's health in the face of slowing economy and higher inflation.
The yield on benchmark 10-year Treasury notes was last at 4.88%, after breaching the 5% mark in the previous session. U.S. technology giants are expected to post their strongest quarterly revenue growth in at least a year as their legacy businesses have stabilized, with Microsoft and Alphabet scheduled to report results after markets close on Tuesday.
An S&P Global survey showed U.S. business output ticked higher in October as the manufacturing sector grew after contracting for five straight months while services activity accelerated modestly amid signs of easing inflationary pressures.At 9:52 a.m. ET, the Dow Jones Industrial Average was up 172.94 points, or 0.53%, at 33,109.35, the S&P 500 was up 21.76 points, or 0.52%, at 4,238.80, and the Nasdaq Composite was up 80.05 points, or 0.61%, at 13,098.38.
HCA Healthcare sank 8.6% after the hospital operator missed Wall Street estimates for quarterly profit as its physician-staffing joint venture missed internal growth targets.
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10-yr Treasury yield passes 5%, stocks at seven-month lowsKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
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Wall St opens lower as 10-yr yield hits 5%; Big Tech earnings in focusKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
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