U.S. Stocks Rise as Treasuries Slide With Oil: Markets Wrap
- The tech-heavy Nasdaq 100 outperforms benchmarks, rising 2.2%
- Initial jobless claims at 53-year low temper growth concern
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U.S. stocks gained as investors weighed economic resilience against the threats of rising rates and the impact of the war in Ukraine.
The S&P 500 advanced, clawing back Wednesday’s losses as all the 11 main industry groups rose. The tech-heavy Nasdaq 100 gained the most among major benchmarks, climbing 2.2%. Treasuries resumed their slide, with the 10-year benchmark yield rising as much as 10 basis points to 2.39%. Oil fell about 3% in New York, while Bitcoin climbed to a three-week high.