US stocks rise as oil, yields ease
US stock indexes ended mostly higher as oil prices and US Treasury yields eased on Tuesday, while French stocks fell as worries about unrest in the country remained. Helping the blue-chip Dow, 3M shares shot up 5.8 percent after it said it was expanding its data-centre partnership with Amazon. Shares of the industrial conglomerate were also boosted by the company raising its full-year profit…
US stock indexes saw mostly positive movement on Tuesday as oil prices declined and US Treasury yields fell. The Dow Jones Industrial Average, led by 3M's 5.8% increase, rose 1%, while the S&P 500 gained 0.3%. However, French stocks declined 0.4% amid concerns over unrest. SpaceX's shares rose after reporting a tripling of revenue in Q3, surpassing expectations, though the stock fell slightly in the regular session.
Netflix, on the other hand, saw a 1.7% drop after delivering disappointing quarterly guidance. Investors are now keenly awaiting corporate earnings reports to gauge consumer and economic resilience and the effectiveness of AI spending. Analysts have adjusted upwardly their earnings forecasts, and the uncertainty surrounding higher interest rates and their impact on AI stocks remains.
US Treasury yields, particularly the 10-year note, dropped 1.5 basis points to 5.121%. The Fed's probability for a 25 basis point rate hike during the upcoming policy meeting stands at 17.2%, down from 22.1% a week prior. This market outlook reflects relief at reduced rate volatility and oil price stabilization, despite the prices remaining high.
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