US Stocks Mixed Amid Iran Tensions and Rising Bond Yields
The US stock market saw mixed performance on Wednesday as investors weighed the impact of renewed tensions between the US and Iran, rising global bond yields, and the continued strength in artificial intelligence trade.
The Dow Jones Industrial Average rose 215 points, while the S&P 500 gained 0.10% and the Nasdaq Composite fell 0.05%. The AI infrastructure has provided support for parts of the technology sector, with Dell shares rising 6.65% after the company raised its annual profit and revenue forecasts.
Nvidia shares rose 1.01%, but Apple and Tesla each fell 0.26% and 0.79% in trading respectively. Higher Treasury yields remained a key concern for stock investors, reaching 4.814% on Wednesday, its highest level since November 2023.
The Federal Reserve's interest-rate decisions are also being closely watched, with markets pricing in a 66% probability of a September rate hike, up from about 37% a week earlier.