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U.S. Stocks Rise as Bond Yields Ease

Stock Markets Sep 28, 2022 10:37AM ET
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By Liz Moyer 

Investing.com -- U.S. stocks rose as investors tried to reverse a multi-day losing streak sparked by global growth concerns.

At 10:35 ET (14:35 GMT), the Dow Jones Industrial Average was up 228 points or 0.8%, while the S&P 500 rose 0.8%, and the NASDAQ Composite was up 0.6%.

The Bank of England, trying to stabilize the pound's rapid descent, said it would buy long-dated government bonds.

Meanwhile, the yield on the U.S. 10-year Treasury bill backed off of 12-year highs and Germany's benchmark 10-year government bond yield fell from an 11-year high.

Today features appearances and speeches from a number of Federal Reserve officials, including Chair Jerome Powell and James Bullard. Investors have worried that the Fed's aggressive stance on taming inflation could tip the economy into a recession, though expectations are that the central bank will continue on its path of interest rate increases.

Stocks were also moving after a report that Apple Inc. (NASDAQ:AAPL) will not increase production of its iPhone 14, sending its own shares down more than 3%.

Shares of Biogen Inc. (NASDAQ:BIIB) surged 36% after its drug development partner Eisai Co. (TYO:4523) reported positive results from a trial of their latest Alzheimer's drug. Eli Lilly and Company (NYSE:LLY) shares rose 9%.

Investors were keeping an eye on Hurricane Ian, which is about to slam into the west coast of Florida, shutting down flights to and from the region and with the potential to cause severe damage.

Oil rose. Crude Oil WTI Futures was up 3.3%, to $81.09 a barrel, and Brent Oil Futures crude was up 2.5% to $87 a barrel. Gold Futures rose 1.5% to $1660.

U.S. Stocks Rise as Bond Yields Ease
 

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Comments (5)
Prabhat Negi
Prabhat Negi Sep 28, 2022 1:05PM ET
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stocks rise but why .. because of England? you gotta be kidding me.. all of a sudden England can dictate US stock markets to erase all losses. . excuses for manipulation
Sagar Mahajan
Sagar Mahajan Sep 28, 2022 12:01PM ET
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TIME TO TRAP 🐻! 🤣💯💯⭐️
Mitchel Pioneer
Mitchel Pioneer Sep 28, 2022 10:55AM ET
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The 10AM FRAUD flagrantly commences on schedule in the criminally manipulated farce called the BIGGEST INVESTMENT JOKE IN THE WORLD.
lakes Tenn
lakes Tenn Sep 28, 2022 10:42AM ET
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red end of day
Ronald Warren
Ronald Warren Sep 28, 2022 10:42AM ET
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Who are they trying to fool. This is still a bear market. Now that we've revisited June's bottom, it's safe to assume the market will correct another 20%.
 
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