Stocks rise on AI-led earnings, France's 10-year bond yield hits 5%
SPY•Major stock indexes climbed on Wednesday as AI-focused companies reported strong results, with the Nasdaq up 1.05%. France's 10-year bond yield topped 5% for the first time since 2002.
1. US stocks climb
The Dow rose 0.69% to 52,856.09, the S&P 500 gained 0.58% to 7,757.17 and the Nasdaq advanced 1.05% to 26,702.86. Super Micro shares rose 9.5% after the AI server maker forecast quarterly revenue and profit margin above Wall Street estimates.
2. French yields hit 5%
France's 10-year bond yield reached a new 24-year high above 5% as concern grew about the country's economic outlook. The premium over 10-year German Bunds edged back toward the nearly 160-basis-point high reached in early October.
3. After-hours moves
Meta shares gained after it raised the lower end of its annual spending forecast, while Tesla shares rose after the company reported surprise positive cash flow for the third quarter. European stocks also advanced, with the STOXX 600 up 0.92%.
