US Markets
Home›US Markets›Indices›Dow and S&P 500 rise as bonds rally and Trump pauses C…
Dow and S&P 500 rise as bonds rally and Trump pauses Canada tariffs
Yields backed off from recent highs after the Treasury said it will increase buybacks of long-dated debt, with the 10-year yield slipping 5 basis points to 4.65%.
US stocks rose on Wednesday, with the Dow Jones Industrial Average up 0.2% and the S&P 500 gaining 0.3%, as investors moved into bonds after the US Treasury Department said it would increase buybacks of long-dated government debt.
According to Yahoo Finance, the tech-heavy Nasdaq Composite also climbed 0.2%. Moderna shares more than doubled after the company reported positive results from its late-stage trial of a melanoma vaccine developed with Merck.
Bond prices rallied after the Treasury announcement, which said it would increase buybacks of long-dated government debt “by at least double” for securities from the 10-year to 30-year sector. The 10-year yield fell 5 basis points to 4.65%, and the 30-year yield declined 9 basis points to 5.20%, after both had reached their highest levels since 2007 earlier this week.
In parallel, President Trump paused tariffs on Canadian goods that were scheduled to take effect at midnight, following 11th-hour talks between Trump officials and Canadian Prime Minister Mark Carney’s team. Yahoo Finance added that the market is also watching the Fed’s FOMC July meeting minutes later on Tuesday for clues on inflation and policy debates.
Latest closeS&P 500 7,785.76 ▼0.2%|Nasdaq Comp. 26,729.16 ▼0.3%|Dow Jones 53,732.41 ▼0.2%