Stocks Bounce Back; Bond Yields Climb on Fed Bets: Markets Wrap
- Fed’s Barkin wants more evidence inflation is easing to target
- Schwab deposits drop as brokerage pauses share repurchases
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Stocks saw small moves as the possibility of further Federal Reserve policy tightening lifted Treasury yields and investors stayed on the sidelines amid bank earnings.
The S&P 500 erased losses in afternoon New York trading. The tech-heavy Nasdaq 100 underperformed major equity benchmarks. Two-year rates climbed to around 4.2% as investors scaled back expectations for rate cuts later in the year.