From Kiplinger · · 1m
Stocks Rise as Treasury Yields Spike
Treasury yields hit 5.344% as stocks initially gain then fall.
In brief
Treasury yields hit 5.344% as stocks initially gain then fall. Stocks rose after strong earnings but fell as Treasury yields spiked to 5.344%. Originally reported by Kiplinger.
Stocks open higher
Stocks opened higher Thursday thanks to a solid round of corporate earnings.
Treasury yields spike
The 10-year Treasury yield hit an intraday high of 5.344% today.
Yields drop by close
The 10-year Treasury yield closed down 5.9 basis points at 5.234%.
30-year yield peaks
The 30-year Treasury yield notched its highest intraday peak in 24 years.
Dow Jones falls
The Dow Jones Industrial Average opened 0.4% higher but was down 0.7% by mid-morning.
S&P 500 and Nasdaq rise
The S&P 500 and Nasdaq Composite both closed in positive territory.
Micron beats earnings
Micron Technology reported earnings per share of $33.42 from $3.03 the year prior.
Accenture surges
Accenture jumped 15.8% after reporting better-than-expected fiscal fourth-quarter results.
The short version
Stocks rose after strong earnings but fell as Treasury yields spiked to 5.344%.
