S&P 500 climbs as tech rallies after Treasury yields run out of steam
Investing.com -- The S&P 500 climbed Monday as retreating Treasury yields paved the way for tech stocks to advance ahead of the quarterly earnings from big tech this week.The surge in longer-term Treasury yields have been driven by several factors including stronger-than-expected economic growth and stubborn inflation as well as a jump in supply as the U.S. Treasury steps up the pace of borrowing.
The move comes just over a week ahead of the Federal Open Market Committee two- day meeting slated for Oct. 31.
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