Gains in several Big Tech companies helped push the index higher, even though more stocks fell than rose. The Dow added 56 points, and the Nasdaq composite climbed 0.9%. The 10-year Treasury yield eased following its own sharp swings since the summer. Oil prices fell sharply to take some pressure off inflation. Benchmark U.S. crude fell back below $78 per barrel to where it was in July.NEW YORK — U.S.
The majority of big companies has been topping estimates so far this earnings reporting season, but another factor has been much more influential in driving the stock market’s big swings since the summer: the bond market. But yields eased sharply last week after investors took comments from the Federal Reserve to indicate it may finally be done with its hikes to interest rates. Inflation has been moderating since peaking in the summer of 2022, and the recent jump in Treasury yields may be acting like a substitute for more rate hikes.
More speeches by Fed officials this week could prove to be the biggest movers of financial markets, with relatively few high-impact economic reports on the calendar. Depending on what Fed officials say, that could portend a quieter week for financial markets, which have had quick triggers.
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