US Stocks Rebound on Falling Treasury Yields, Moderna Surges on Vaccine Trial

The US stock market began Wednesday on a positive note, rebounding from Tuesday's technology-led selloff. The Dow Jones Industrial Average rose by 100 points, while the S&P 500 and Nasdaq Composite gained 0.37% and 0.28%, respectively.

The decline in long-term Treasury yields provided relief to equity markets. The US Treasury Department's decision to expand its government debt buyback operations led to a decrease in long-term yields. The 30-year Treasury yield fell by nearly 9 basis points to 5.196%, and the 10-year yield declined six basis points to 4.647%.

Investors remained focused on inflation, government borrowing, and geopolitical risks despite the improved market sentiment. Moderna shares were a significant gainer, rising over 91% after announcing positive results from its experimental cancer vaccine trial with Merck's Keytruda.