Equities pare early gains as Treasury yields surge, with the Dow Jones dipping 0.17% while the S&P 500 and Nasdaq post modest advances.
US stock futures traded higher Tuesday after a volatile session Monday, where early gains faded amid rising Treasury yields. The Dow Jones Industrial Average closed at $94.22, down 0.17%, while the S&P 500 and Nasdaq rose 0.30% and 0.87%, respectively, paring stronger intraday rallies.
Yields on the 10-year Treasury note climbed to 4.56%, and the 30-year bond reached 5.04%, pressuring equities. The S&P 500’s 8-week high opening gap failed to sustain momentum as sellers dominated late in the session. The Russell 2000 ended up 0.77% at 2,855.
Market focus remains on bond yields and their impact on valuations, with concerns over froth persisting despite potential catalysts like the anticipated SpaceX IPO.