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    U.S. Stocks Edge Higher, Yields Push Up, as Asian Markets Mostly Decline

    Avatar of The Market ReporterBy
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    On February 15, 2023
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    At 6:32 pm
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    In The Markets
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    On Wednesday, Feb. 15, U.S. stocks experienced a slight increase, with the major equities indexes finishing in the green by the close of trading.[0] The Dow Jones Industrial Average saw an increase of 0.4%, while the S&P 500 rose by 0.1%.[1] The Nasdaq composite decreased by 0.7%, whereas the small-cap Russell 2000 increased by 0.2%.[2] Bond trading saw yields increase slightly.[3] The 10-year Treasury yield (US10Y) increased by 5 basis points to reach 3.81%, and the 2-year yield (US2Y) rose by 1 basis point to 4.63%.

    The S&P 500 experienced a 0.3% increase after transitioning from an early downturn to a positive growth trajectory throughout the day. The Dow Jones Industrial Average increased by 38 points, equaling a 0.1% gain, while the Nasdaq composite experienced a more significant 0.9% rise.[4] Airbnb (ABNB) jumped 13.4%, Roblox (RBLX) surged 25%, and G1 Therapeutics Inc (NASDAQ:GTHX) stock tanked 51.6% in premarket trading.[4]

    Despite the fact that initial claims were higher than anticipated, at 196,000 compared to the projected 190,000, the yield on the 10-year Treasury note still increased by 3 basis points to 3.68%. The number was higher than the 183,000 reported the week prior.[5] The two-year Treasury yield, which typically follows Fed forecasts, spiked to nearly 4.70 percent after the release of retail sales data, the highest it has been since November. This was a climb from the previous day's 4.62 percent and the overnight figure of less than 4.60 percent.[6] The rate then decreased to 4.60 percent.[4]

    At the start of trading on Monday, the Dow increased by 0.59% to 34,069.23, and the NASDAQ was up 0.65% to 11,793.71.[7] The S&P 500 increased by 0.52%, ending the day at 4 US investor sentiment improved, according to the CNN Money Fear and Greed index.[8]

    Most Asian markets ended the day in the red, apart from the Shanghai Composite in China, which ended the day 0.7% higher.[9] The Nikkei in Japan dropped 0.9%, in anticipation of the new Bank of Japan governor being introduced to the legislature on Tuesday.[9]

    0. “Markets Reverse Earlier Losses and Finish Higher” Investopedia, 15 Feb. 2023, https://www.investopedia.com/markets-reverse-earlier-losses-and-finish-higher-7110344

    1. “Stock Market Closed Mixed; Nasdaq Broke Its Winning Streak” Investor's Business Daily, 10 Feb. 2023, https://www.investors.com/market-trend/stock-market-today/stock-market-on-track-for-a-down-week-medical-device-stock-shines

    2. “Stock Market Indexes Pull Ahead In Final Hour; Etsy Posts Over 6% Gain” Investor's Business Daily, 15 Feb. 2023, https://www.investors.com/market-trend/stock-market-today/the-stock-market-climbs-out-of-morning-hole-stock-soars/

    3. “Dow, Nasdaq, S&P 500 overcome lingering Fed fears to end choppy session higher” Seeking Alpha, 15 Feb. 2023, https://seekingalpha.com/news/3936612-dow-nasdaq-sp-500-end-higher-despite-choppy-trading-as-fed-fears-linger

    4. “Stocks tick higher as hopes on economy joust rate fears” The Washington Post, 15 Feb. 2023, https://www.washingtonpost.com/business/asian-stocks-fall-after-us-inflation-feeds-rate-hike-fears/2023/02/15/f692ab30-acf4-11ed-b0ba-9f4244c6e5da_story.html

    5. “Dow Jones Falters; Microsoft Has Growing AI Waitlist” Investor's Business Daily, 9 Feb. 2023, https://www.investors.com/market-trend/stock-market-today/dow-jones-falters-nextracker-ipo-pops-45-microsoft-rises-on-growing-ai-waitlist

    6. “Stocks tick higher as hopes on economy joust rate fears” Toledo Blade, 15 Feb. 2023, https://www.toledoblade.com/business/stock-market/2023/02/15/stocks-tick-higher-wall-street-economy-rate/stories/20230215122

    7. “US Stocks Open Higher; Dow Jumps 200 Points – Diebold Nixdorf (NYSE:DBD), ComSovereign Holding (NASDAQ:CO” Benzinga, 13 Feb. 2023, https://www.benzinga.com/news/earnings/23/02/30879034/us-stocks-open-higher-dow-jumps-200-points

    8. “Investor Optimism Improves Slightly As US Stocks Record Gains By Benzinga” Investing.com UK, 14 Feb. 2023, https://uk.investing.com/news/stock-market-news/investor-optimism-improves-slightly-as-us-stocks-record-gains-2913590

    9. “Stock Futures Tick Mostly Higher After Dismal Week” Schaeffers Research, 13 Feb. 2023, https://www.schaeffersresearch.com/content/ezines/2023/02/13/stock-futures-tick-mostly-higher-after-dismal-week

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