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Stocks closed higher as pressure relaxed on Wall Street from the bond market.
The S&P 500 rose 0.5% Tuesday. The Dow added 134 points, and the Nasdaq composite climbed 0.6%. Treasury yields eased considerably after trading resumed following a holiday on Monday.
It was the first opportunity for yields to move since the weekend’s surprise attack by Hamas on Israel and since Federal Reserve officials gave speeches that suggested the Fed may not hike rates again. Oil prices gave back some of their sharp gains from a day before. PepsiCo rose after reporting stronger profit than expected.
On Tuesday:
The S&P 500 rose 22.58 points, or 0.5%, to 4,358.24.
The Dow Jones Industrial Average rose 134.65 points, or 0.4%, to 33,739.30.
The Nasdaq composite rose 78.60 points, or 0.6%, to 13,562.84.
The Russell 2000 index of smaller companies rose 19.95 points, or 1.1% to 1,775.95.
For the week:
The S&P 500 is up 49.74 points, or 1.2%.
The Dow is up 331.72 points, or 1%.
The Nasdaq is up 131.50 points, or 1%
The Russell 2000 is up 30.39 points, or 1.7%.
For the year:
The S&P 500 is up 518.74 points, or 13.5%.
The Dow is up 592.05 points, or 1.8%.
The Nasdaq is up 3,096.36 points, or 29.6%
The Russell 2000 is up 14.70 points, or 0.8%.