Stocks Push Higher; Dollar Reaches 3-Month Peak: Markets Wrap
- Benchmark 10-year Treasury yields extend climb beyond 3%
- Dow Industrials break longest losing streak since March 2017
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Most U.S. stocks closed higher after swinging between gains and losses while investors mulled the implications of rising U.S. bond yields and disappointing earnings. The dollar resumed its rally, climbing to the highest in three months.
“We’re going to have to continue this back and forth because the question is going to be throughout the year whether or not and at what level are rates too high for the economy,” Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management Co., said in an interview at Bloomberg’s New York headquarters.