US Stocks Mostly Higher as Long-Term Yields Fall
US stock indices closed mostly higher on Tuesday as traditional economic sectors rebounded. The S&P 500 gained 0.3%, and the Dow rose 530 points, while the Nasdaq edged 0.1% lower. Long-term Treasury yields declined alongside energy prices, reinforcing expectations that the Fed will refrain from delivering back-to-back rate hikes at its meeting next week. Traditional sectors recovered from Monday’s losses. Banks and asset managers rebounded, Berkshire Hathaway rose 1.4%, while Goldman Sachs gained 1.1%. Healthcare stocks also advanced sharply, with Eli Lilly (+3.5%), Merck (+3.2%), and Johnson & Johnson (+2.2%) posting solid gains. On the earnings front, 3M (+5.8%) beat profit estimates and raised its full-year outlook for the second consecutive quarter. General Motors tumbled 6.8% after narrowing its profit outlook amid declining sales. SpaceX fell 0.1% and Netflix lost 1.7% ahead of their earnings reports after the closing bell.
US stock indices closed mostly higher on Tuesday as traditional economic sectors rebounded. The S&P 500 gained 0.3%, and the Dow rose 530 points, while the Nasdaq edged 0.1% lower. Long-term Treasury yields declined alongside energy prices, reinforcing expectations that the Fed will refrain from delivering back-to-back rate hikes at its meeting next week. Traditional sectors recovered from Monday’s losses.
Banks and asset managers rebounded, Berkshire Hathaway rose 1.4%, while Goldman Sachs gained 1.1%. Healthcare stocks also advanced sharply, with Eli Lilly (+3.5%), Merck (+3.2%), and Johnson & Johnson (+2.2%) posting solid gains. On the earnings front, 3M (+5.8%) beat profit estimates and raised its full-year outlook for the second consecutive quarter. General Motors tumbled 6.8% after narrowing its profit outlook amid declining sales.
SpaceX fell 0.1% and Netflix lost 1.7% ahead of their earnings reports after the closing bell.