- The major Wall Street indices are trading near Tuesday’s closing levels on Wednesday.
- The sharp rally in US Treasury yields is hurting sentiment.
The main US stock indices began near Tuesday’s closing levels on Wednesday, as investors appear to be on the sidelines as they watch for renewed upward pressure on US Treasury yields.
At time of writing, the Dow Jones Industrial Average was up 0.2% on the day to 31,470, the S&P 500 was unchanged at 3,870 and the Nasdaq Composite was down 0.2% at 13,023.
Among the top 11 sectors in the S&P 500, the Financial Index is up 0.85% supported by a 5.8% rise in the yield on benchmark 10-year US Treasuries. On the other hand, the Materials Index and the Utilities Index lose around 0.5% as the worst performers after the opening bell.
S&P 500 chart (daily)
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