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Stocks Rise for Second Day; Treasury Yields Drop: Markets Wrap

  • U.S. 10-year note yields post biggest decrease in five weeks
  • Oil drops even after report shows shrinking domestic supplies
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WATCH: Federal Reserve rate actions have had a coercive affect on the markets and forced investors to move into risk assets, according to Oaktree Capital Group co-founder Howard Marks.

Source: Bloomberg
Updated on

Stocks rose and benchmark Treasury yields retreated for a second day amid optimism the economy will continue to benefit from government support.

Technology shares led gains, with the Nasdaq 100 outperforming the benchmark S&P 500. Intel Corp. jumped 7% after the chipmaker named a new chief executive. Treasury received strong demand for a second consecutive day at a government debt sale, helping to send yields down from the highest levels since March.