- US stocks closed mixed as tech shares dragged the benchmark index lower amid rising Treasury yields.
- Bond yields continued to rise with the key 10-year Treasury note yield edging up to 1.672%.
Oil prices $4 following plans by the Biden administration to release oil from the emergency stockpile.
US stocks closed mixed on Tuesday as technology shares dragged lower amid rising Treasury yields.
The S&P 500 and Dow Jones Industrial Average closed higher, while the tech-heavy Nasdaq composite edged lower.
Here's where US indexes stood at the 4:00 p.m. ET close on Tuesday:
- S&P 500>$4: 4,690.72, up 0.17%
- Dow Jones Industrial Average>$4: 35,813.74, up 0.55% (194.49 points)
- Nasdaq Composite>$4: 15,775.14, down 0.5%
"The Nasdaq is getting punished as investors scale down their mega-cap tech bets as margin worries grow and Treasury yields continue to rise," Edward Moya, senior equity analyst at Oanda, said in a note Tuesday.
Bond yields continued to rise on Tuesday, with the $4 yield up marginally to 1.672%, well above a recent low of 1.418% touched in earlier in November on expectations the Fed will hike interest rates as soon as June 2022.
$4 $4 after the video teleconferencing firm announced an expected revenue slowdown as the pandemic eases. Tech shares are also more sensitive to higher interest rates than others
$4 $4 after the discount chain announced that its $4 will be $1.25, departing from the everything-for-$1 philosophy the retailer has employed for the past three decades.
$4 $4 after the electronics retailer said an $4 is hurting its profit margins.
In the SPAC market, Manscaped, a men's grooming startup backed by Channing Tatum, $4 it is going public by $4 with blank-check firm Bright Lights Acquisition Corp$4 in a deal valuing the company at $1 billion.
Elsewhere, $4 is up 2.10% to $57,462, but is still roughly 16% lower from its record high of above $68,600 on November 10.
US regulators meanwhile said they $4 next year on the role of traditional banks in crypto to promote consumer protection and compliance.
Oil prices $4 following plans by the Biden administration to release oil from the country's emergency stockpile to combat the high gas prices that consumers are paying.
$4 oil rose as much as 2.54% to $78.70 per barrel. $4, oil's international benchmark, jumped 3.51% to $82.50 per barrel.
$4 fell 0.99% to $1,791.07 per ounce, breaking below the $1,800 level.