NEW YORK — Wall Street is clawing back some of its losses from earlier in the week as pressure alleviates from the bond market Thursday.
The S&P 500 was 0.3% greater in afternoon trading, coming off a back-to-back loss. The Dow Jones Industrial Average increased 14 points, or less than 0.1%, as of 1: 51 p.m. Eastern time, and the Nasdaq composite was 0.8% greater.
Big Tech stocks were assisting to lead the method, consistingof a 2.9% climb for Apple. Fastenal leapt 5.9% for the greatest gain in the S&P 500 after the supplier of security materials, fasteners and other items reported a larger quarterly earnings than experts anticipated. They assisted balancedout a caution from Humana about how greater expenses would consume into its earnings. The insurancecompany toppled 10.2%.
Stocks were broadly steadier as Treasury yields in the bond market slowed their dive from earlier in the week. Yields hadactually been climbingup as traders pressed back their projections for how quickly the Federal Reserve will start cutting interest rates. Higher yields in turn undercut costs for stocks and raise the pressure on the economy.
The Fed has showed it will mostlikely cut rates anumberof times in 2024 duetothefactthat inflation hasactually been cooling consideringthat its peak 2 summertimes ago, significance it might not requirement as tight a leash on the economy and monetary system. But critics stated Wall