US stocks rallied on Wednesday as easing bond yields and a pullback in oil prices improved market sentiment, helping the S&P 500, Dow, and Nasdaq rise sharply. The Dow Jones Industrial Average rose 515.70 points, or 1.04%, to 49,879.58, the S&P 500 gained 63.28 points, or 0.86%, to 7,416.89 and the Nasdaq Composite advanced 311.21 points, or 1.20%, to 26,181.91.
The 10-year Treasury yield dropped to 4.58% from 4.67%, easing pressure on equities after recent gains driven by inflation and geopolitical concerns. Tech stocks led the advance, with Nvidia, AMD, and Intel posting strong gains ahead of Nvidia’s earnings report. Lower yields also boosted smaller-cap stocks, with the Russell 2000 outperforming major indexes. Mixed corporate earnings added to the momentum, with several retailers reporting stronger-than-expected results, though Target slipped despite beating estimates.
