Stock Market Today: Dow, S&P 500 Open Higher; Bitcoin Jumps
A stabilization in the 10-year Treasury yield lifted stock indexes early Tuesday amid a busy slate of earnings reports, with Google parent Alphabet and Microsoft coming later.
After cresting Monday just beyond 5% for the first time since 2007, the yield on the 10-year note held just under 4.9% in morning trading. Dramatic swings in government bonds have rattled financial markets recently and complicated the outlook for when the Federal Reserve may begin cutting interest rates.
Stocks advanced. The S&P 500, the Dow and tech-heavy Nasdaq all opened about 0.5% higher.
General Electric, 3M and Coca-Cola stocks all rose after the companies raised their financial outlooks. GE climbed after saying it would shed its power business in 2024.
Bitcoin briefly surpassed $35,000. The cryptocurrency climbed before retreating, boosting crypto-related stocks.
The euro weakened against the dollar, and the yield on the 10-year German bund fell, after data showed that a downturn in eurozone economic activity worsened in October.
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