NEW YORK (AP) — The U.S. stock market is bouncing back Wednesday after pressure eased on Wall Street from the bond market and oil prices gave back some of their big gains.
The S&P 500 climbed 0.9% toward its first rise in four days and pulled closer to its all-time high set last week. The Dow Jones Industrial Average was up 484 points, or 1%, as of noon Eastern time, and the Nasdaq composite was 1.3% higher.
Stocks got a lift from easing yields in the bond market, a relief following rapid climbs that had rattled stock markets worldwide recently. The yield on the 10-year Treasury fell to 4.58% from 4.67% late Tuesday, which is a significant move for a market that measures things in hundredths of a percentage point.
