Stock futures jump as Treasury action relieves bond market pressure: Live updates - CNBC
U.S. stock markets rose after the Treasury Department announced an increase in government debt buybacks, which helped lower bond yields. Major indices saw gains, bolstered by strong corporate earnings and positive clinical trial results from Moderna.
Why it matters
Market stability is heavily influenced by Treasury policy; lower bond yields generally encourage investment in equities, impacting retirement accounts and broader economic health.
The S&P 500 ended a three-day losing run on Wednesday as bond yields fell following the Treasury Department's announcement of an increased buyback operation for longer-term debt .
The broad market index advanced 0.21% to close at 7,707.98, while the Nasdaq Composite gained 0.16% to 26,331.09. The 30-stock Dow Jones Industrial Average added 119.65 points, or 0.22%, and settled at 53,463.05.
The rally lost ground as the session went on. Earlier in the day, the Dow climbed more than 360 points, or 0.7% at its high of the session. The S&P 500 was up 0.7% at its peak, while the Nasdaq was higher by 0.6%.
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