Wall Street Edges Higher as Earnings Optimism Eases Bond Worries [The New York Times]
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Source: The New York Times
By REUTERS APRIL 23, 2018, 11:55 A.M. E.D.T. Continue reading the main story (Reuters) - Wall Street edged higher on Monday, led by technology stocks, as optimism about strength of the earnings season helped ease concerns on rising U.S. Treasury yields. The yield on 10-year U.S. Treasuries hit a four-year high of 2.998 percent, edging closer to the 3-percent level, amid worries about the growing supply of government debt and accelerating inflation as oil and commodity prices climb. While rising yields usually tend to make stocks look less attractive in comparison, which was one of the triggers for the equity market sell-off in February, market strategists said strong earnings could help investors overlook such concerns this time around. If we get to that level (3 percent), it's not going to be too much of a negative for investors because earnings have been coming in quite good and that's what we need to push stocks higher, said
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