Forex
US Stocks Rebound as Treasury Yields Pull Back from Multi-Decade Highs
The US stock market experienced a slight recovery on Thursday after Treasury yields pulled back from multi-decade highs. The benchmark 10-year Treasury yield briefly climbed to 5.342%, its highest level since April 2002, but later reversed course as buyers returned to the bond market.
The S&P 500 gained 0.23% to 7,668.82, while the Nasdaq Composite rose 0.07% to 26,871.60. The Dow Jones Industrial Average added 29.84 points, or 0.06%, to finish at 50,935.89.
The decline in shorter-dated yields reflected changing expectations around Federal Reserve policy. The two-year Treasury yield, which is particularly sensitive to expectations for the federal funds rate, was on track for its largest daily decline since August 2025.