US Stocks Climb on Oil Price Decline and Lower Yields
US stocks rose on Friday's midday trading as oil prices and Treasury yields cooled down. The Dow Jones index climbed by 0.7% in this session, while WTI crude fell 3.9% to $88.62 a barrel.
The 10-year US Treasury yield dipped to 4.66%, its lowest level in about a year. This slight decrease in long-term yields is seen as supporting stock valuations, making future profits less discounted.
The combination of falling oil prices and lower bond yields helped steady risk appetite after a tense prior day. This led to a rally across most sectors, with real estate among the leaders.
Digital Realty Trust, a data-center owner structured as a REIT (Real Estate Investment Trust), was one standout performer. Its shares jumped nearly 15% after beating expectations for core funds from operations and lifting its longer-term guidance.