Stocks Gain a Second Day on Tech Rally; Oil Surges: Markets Wrap
- Crude climbs most since June as hurricane threatens coast
- Treasury two-year note yields increase to decade highs
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Stocks gained as the technology sector rebounded and energy-related shares rallied with crude oil. Treasury two-year note yields rose to a decade high with the U.S. selling debt and expectations becoming cemented for more Federal Reserve rate increases.
The S&P 500 and Nasdaq rose for a second day, while the Dow recovered from Monday’s losses after investors shook off lingering anxiety about U.S. and Chinese trade relations. Apple, Microsoft, Facebook, Amazon and Google parent Alphabet pushed the tech heavy Nasdaq 100 Index up the most in about two weeks. European shares ended mostly flat. In emerging markets, shares fell while a gauge of currencies erased earlier gains.