On Wednesday, U.S. stocks mostly ended on a positive note amidst some erratic trading sessions, with a notable rise in long-term Treasury yields continuing to stir concerns about inflation.
The minutes from the Federal Reserve’s December meeting were made public the same day, highlighting that nearly all officials perceived a heightened risk to inflation forecasts last month. They were weighing the possible effects of shifts in trade and immigration policies if there were to be a second term for the Trump administration.
The Dow Jones posted a gain of 106.84 points, or 0.3%, closing at 42,635.20, according to preliminary figures. This marked the index’s first upward move after a three-session slump.
The S&P 500 also saw an increase, climbing 9.2 points, or almost 0.2%, to settle at 5,918.25. It has now managed to finish higher in three out of the last four trading sessions.
Meanwhile, the Nasdaq Composite was less fortunate, recording losses for the second consecutive session. It dipped by 10.8 points, or less than 0.1%, closing at 19,478.88. This marks its seventh decline in the last nine sessions.
Over in the bond market, the 30-year Treasury bond continued its downward trajectory for the sixth day running, elevating its yield to 4.931%—the highest since November 1. On Wednesday, the 20-year yield briefly surpassed the 5% threshold, while the 10-year rate rose for the fourth day in a row, peaking at 4.691%, its highest closing rate since April 25 of last year.
