UPDATE: Stock market fights to bounce back after rising rates rattle Wall Street
U.S. stocks traded tentatively higher early Wednesday as investors wrestled with rising rates, with bond yields holding at multiyear peaks after surging on Tuesday on brisker-than-expected retails sales and manufacturing. The Dow Jones Industrial Average was trading up 20 points, up less than 0.1%, at 24,727 after halting an eight session rally Tuesday as investors were spooked by the climb in the 10-year Treasury note to the highest level since 2011 above 3%. On Wednesday, rates mostly held their ground as investors digested the recent moves in government paper. The S&P 500 index advanced slightly, picking up 0.1% at 2,717, while the Nasdaq Composite Index rose about 0.2% to 7,368.
-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 16, 2018 13:47 ET (17:47 GMT)
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