Stocks rise with upbeat earnings; France's 10-year bond yield hits 5%
SPY•Major stock indexes climbed as earnings results and forecasts lifted sentiment, while France's 10-year bond yield reached 5% for the first time since 2002. SpaceX shares rose about 10% after Elon Musk called a merger with Tesla a good idea.
1. Stocks gain on earnings
Major stock indexes rose on Wednesday as company results and forecasts improved sentiment about the earnings outlook. The Dow gained 0.15%, the S&P 500 rose 0.35% and the Nasdaq advanced 0.86%.
2. SpaceX and Super Micro rise
SpaceX shares gained about 10% after Elon Musk said a merger with Tesla would be “a good idea”; SpaceX also posted its first profit as a public company. Super Micro shares rose more than 9% after it forecast quarterly revenue and profit margin above Wall Street estimates.
3. French yield reaches 5%
France's 10-year bond yield hit 5%, its highest level since 2002, as investors weighed protests and concerns about the country's economic outlook. The yield on US 10-year notes edged down to 5.102%.
