Markets shake off some early wobbles

Stocks regained their footing after an early slide and closed broadly higher Thursday, led by gains in financial and industrial companies.

The S&P 500 rose 0.5% or 20.38 points to 3,909.52. The Dow Jones Industrial Average gained 199.42 points, or 0.6%, to 32,619.48. The index had been down over 348 points.

The tech-heavy Nasdaq composite had been down 1.4% before clawing back 15.79 points, or 0.1%, to 12,977.68. The Russell 2000 index of smaller stocks outdid the rest of the market, climbing 48.86 points, or 2.3%, to 2,183.12.

Yields in the Treasury market rose Thursday, but at a modest pace after the 10-year yield spiked above 1.70% last week, its highest level since before the pandemic started. The 10-year Treasury yield, which helps set rates for all kinds of loans, rose to 1.63%, from 1.61% late Wednesday.

Big tech stocks swung back and forth in earlier trading and were nearly evenly split within the broader S&P 500 index. Microsoft fell 1.3%, while Hewlett Packard Enterprise rose 3.9%.

Other Big Tech stocks fell. Netflix dropped 3.4% and Facebook lost 1.2%.

Treasury yields have been broadly rising with expectations for stronger economic growth and the inflation that may accompany it. of anonymity as he wasn’t authorized to talk to journalists.

So far, dredgers have tried to clear silt around the massive ship. Tug boats nudged the vessel alongside it, trying to gain momentum. From the shore, at least one backhoe dug into the canal’s sandy banks, suggesting the bow of the ship had plowed into it.