Live Markets-US stocks edge green as yields simmer down

Here is your closing snapshot:

(Stephen Culp)

The move gave a welcome boost to homebuilders .SPCOMHOME and housing stocks .HGX, on hopes that mortgage rates—which track benchmark Treasury yields—could dip back below 6% for the first time in four years.

Banks .SPXBK, .KRX and chips .SOX all shed more than 2%, as investors turned an increasingly skeptical eye on the swelling debt load resulting from massive AI-related expenditures.

Retail stocks .SPXRT had a respectable day, gaining 2.0% following quarterly results from Target TGT.N and Lowe's LOW.N.

Walmart WMT.N is expected to step up to the plate on Thursday.

On the data front, aside from the Labor Department's weekly jobless claims report, the Philly Fed Business Index and the Conference Board's Leading Economic Index are expected to round out Thursday's economic menu.

Wall Street snapped a three-day losing streak on Wednesday as long-dated bond yields pulled back from multi-year highs in a sign that fears of ballooning debt and geopolitical unrest were fading a bit.

"A bit" is the key qualifier. All three major U.S. stock indexes ended the session only modestly green in a value-led rally led by healthcare .SPXHC stocks which jumped 3.5%. Gold/silver .XAU stocks were attention-grabbers, surging 8.8%.

U.S. Treasury Secretary Scott Bessent announced a doubling of buyback sizes for 10-year and 30-year U.S. Treasuries, which helped reel yields back to earth and calm market jitters.