Stock market today: Wall Street opens higher as pace picks up for corporate profits

6% higher in early trading Tuesday and on track to break a five-day losing streak. The pace is picking up for corporate profit reports, and the hope is that S&P 500 companies will report their first growth in a year. Such strength is crucial for the stock market, which has slumped since the summer under the weight of much higher bond yields. The 10-year yield was holding steadier Tuesday.

Treasury yields can dictate how much investors pay for everything from stocks to corporate bonds to cryptocurrencies. Higher yields also make it more expensive for nearly everyone to borrow money, which puts the brakes on economic growth and adds stress to the entire financial system. General Motors rose 1.2% after it posted net income of more than $3 billion from July through September. That's down 7% from the same period last year due to lost production from the autoworkers strike. Company executives said the strike is expected to cut pretax earnings by $200 million per week.

In Asian trading Tuesday, Japan's benchmark Nikkei 225 added 0.2% to finish at 31,062.35. Sydney's S&P/ASX 200 rose 0.2% to 6,856.90. South Korea's Kospi jumped 1.1% to 2,383.51. One wild card for inflation has been the price of oil, which has bounced in recent weeks amid worries potential disruptions to supplies due to the latest Hamas-Israel war.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street drifts lower as pressure rises from the bond marketNEW YORK (AP) — Wall Street is drifting lower in early trading as pressure from the bond market continues to build. The S&P 500 was down 0.5% early Monday. The Dow lost 171 points, and the Nasdaq composite was off 0.6%.
Source: SooToday - 🏆 8. / 85 Read more »

Wall Street analysts on impact of rising yields on stocksSeveral Wall Street analysts, including Morgan Stanley's Mike Wilson and RBC Capital Markets' Lori Calvasina, published notes illustrating stock market risks...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Microsoft Q1 earnings preview: Wall Street looks for signs of AI-powered growthMicrosoft will report its Q1 earnings after the bell on Thursday, as investors look for signs that its AI investments are paying off.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Spotify earnings preview: Wall Street focused on improving margins amid profitability pushSpotify will report earnings before the bell on Tuesday. Here's what to expect.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »