Corp 1000

: U.S. stocks close lower Tuesday as Treasury yields climb

U.S. stocks ended modestly lower on Tuesday, as Treasury yields rose, keeping pressure on the rate-sensitive Nasdaq Composite Index. The Dow Jones Industrial Average DJIA shed about 37 points, or 0.1%, ending near 32,394, while the S&P 500 index SPX fell 0.2% and the Nasdaq COMP closed 0.5% lower, according to preliminary data from FactSet. Stocks fell, but ended off the session lows, as the 2-year Treasury rate BX:TMUBMUSD02Y climbed 10.5 basis points to 4.06%. Bond yields and prices move in the opposite direction. Tuesday also saw a raft of relatively upbeat economic data and increased expectations by traders in fed-funds futures of no rate hike for the Federal Reserve’s May policy meeting. Another area of focus was a hearing on the collapse of Silicon Valley Bank and Signature Bank, with regulators saying the run on Silicon Valley Bank caused it to lose $142 billion in two days.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

Previous post If you can’t make the tax deadline, here’s how to file a federal extension for free. ‘All it does is help you,’ says tax pro
Next post : Electric-vehicle maker Lucid reportedly plans more than 1,000 layoffs