US stocks snap out of losing streak
• The 10-year Treasury yield rose 5.2 basis points to 3.105%
US stocks finished slightly higher on Wednesday with the Dow Jones Industrial Average snapping its longest losing streak in a month.
The Dow Jones Industrial Average rose 59.64 points, or 0.2%, to end at 32,969.23. The S&P 500 gained 12.04 points, or 0.3%, to finish at 4,140.77. The Nasdaq Composite finished 50.23 points higher, or 0.4%, to 12,431.53.
On Tuesday, the Dow Jones Industrial Average fell 154 points, or 0.47%, to 32910, the S&P 500 declined 9 points, or 0.22%, to 4129, and the Nasdaq Composite dropped 0.3 points, or 0%, to 12381. The S&P 500 was up 12.6% from its mid-June low but remains down 13.4% for the year to date.
Market movers
The 10-year Treasury yield rose 5.2 basis points to 3.105%.
Shares of Peloton Interactive rocketed 20.4% higher after the company announced a deal to sell its products on Amazon. The fitness equipment and apparel company has relied on direct-to-consumer sales through its stores and website.
Bed Bath & Beyond shares popped 18% after Wall Street Journal reported the meme stock has found a financing source to shore up its liquidity.
Also read:
US inflation jumps to 9.1%, highest rate since 1981 as consumer pressures intensify
