Wall Street drifts as pressure from the bond market eases

U.S. stocks are drifting Tuesday as some pressure releases on Wall Street from the bond market. The Standard & Poor's 500 was 0.2% higher in early trading. The Dow Jones industrial average was up 18 points, or 0.1%, as of 9:42 a.m. Eastern, and the Nasdaq composite was 0.2% higher. Some of the strongest action was in the bond market, where Treasury yields eased after trading resumed following a holiday on Monday.

The International Monetary Fund on Tuesday lowered its forecast for global economic growth next year, in part because of the effect of high rates around the world, though it upgraded its forecasts for U.S. economic growth specifically. Fighting in Gaza is the latest threat for the world’s economy, particularly after it pushed oil prices higher on Monday.

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