Stock market today: Dow, S&P 500, Nasdaq stage comeback as Treasury yields fall, chip stocks gain
US stock indexes opened higher and ultimately closed up on Thursday, driven by technology sector gains led by Micron and Accenture earnings alongside ongoing artificial intelligence optimism. However, volatile bond markets shook equities worldwide as a deepening Treasury selloff and rising oil prices pushed the benchmark 10-year yield to 5.218 percent, marking its highest level since 2002. This sharp increase in borrowing costs reinforced investor expectations of further Federal Reserve interest rate hikes, causing some afternoon losses across select equities.
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- ✓ US indexes closed up on Thursday, with Accenture leading increases.
- ✓ The benchmark 10-year Treasury yield climbed to 5.218 percent, reaching its highest level since 2002.
- ✓ Micron earnings boosted the technology sector and supported Wall Street alongside artificial intelligence optimism.
What changed
US stock indexes closed higher on Thursday following positive technology earnings despite climbing Treasury yields.
Live updates
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US Stocks Mix as Bond Yields Climb to 2002 High
US stock indexes opened higher and ultimately closed up on Thursday, driven by technology sector gains led by Micron and Accenture earnings alongside ongoing artificial intelligence optimism. However, volatile bond markets shook equities worldwide as a deepening Treasury selloff and rising oil prices pushed the benchmark 10-year yield to 5.218 percent, marking its highest level since 2002. This sharp increase in borrowing costs reinforced investor expectations of further Federal Reserve interest rate hikes, causing some afternoon losses across select equities.
Why it matters
The stock market's recent trajectory depends heavily on the tension between strong technology sector earnings and tightening monetary policy conditions. Surging Treasury yields reflect persistent macroeconomic pressures that threaten equity valuations by increasing corporate and consumer borrowing costs. Investors are closely monitoring these debt market swings to gauge how much higher interest rates can climb before severely curtailing broader market gains.
What is confirmed
- US indexes closed up on Thursday, with Accenture leading increases.
- The benchmark 10-year Treasury yield climbed to 5.218 percent, reaching its highest level since 2002.
- Micron earnings boosted the technology sector and supported Wall Street alongside artificial intelligence optimism.
Still unconfirmed
- A deepening Treasury selloff and higher oil prices reinforced expectations of further Federal Reserve rate hikes, causing afternoon share drops for JFrog, Commerce, ZoomInfo, Upstart, and monday.com.
What to watch next
- Federal Reserve announcements regarding future interest rate hikes
- Further movements in the benchmark 10-year Treasury yield and oil prices
confidence 90%Sources used for this update (7)
- finance.yahoo.com — JFrog, Commerce, ZoomInfo, Upstart, and monday.com Shares Plummet, What You Need To Know
- Yahoo Finance — Stock market today: Dow, S&P 500, Nasdaq mixed as Micron earnings boost tech
- finance.yahoo.com — Stock market today: Dow, S&P 500, Nasdaq mixed as Micron earnings boost tech
- MarketWatch — Stock Market Today: Dow, S&P 500 and Nasdaq open higher as investors weigh Micron earnings; 10-year yield climbs to highest level since 2002
- latimes.com — Swings in the bond market shake stock markets worldwide as AI optimism supports Wall Street
- Barron's — U.S. Indexes Closed Up Thursday; Accenture Led Increases
- qz.com — Stock futures mixed as 10-year Treasury yield hits 2002 high
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