Healthcare shines as AI trade eases
SPY•U.S. stocks were modestly higher as healthcare rose around 2% and AI-linked shares faced another round of selling. The 10-year Treasury yield fell toward 5.10%, while September pending home sales declined 7.3%, versus an estimated 0.5% drop.
1. Healthcare leads sectors
U.S. stocks were modestly higher early Tuesday as rebounding oil prices and renewed selling in AI-linked shares weighed on the market. Healthcare gained around 2% and was on track for a record closing high, while real estate, utilities and financials each rose more than 1%.
2. Yields and chips
The 10-year Treasury yield fell toward 5.10%, supporting big banks, regional banks, biotech, housing-related stocks and small caps. Chip stocks pared earlier losses of more than 2% and were around flat. The Dow, S&P 500 and Nasdaq edged higher.
