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
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: BloombergThis article is for subscribers only.
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.