US stocks rose on Friday morning as Treasury yields tipped lower, but markets were still on track for weekly losses with earnings season well underway.
The S&P 500 (^GSPC) gained roughly 0.5%, after the benchmark snapped a three-day losing streak. The Dow Jones Industrial Average (^DJI) added 0.4%, while the tech-heavy Nasdaq Composite (^IXIC) put on around 0.6%.
Stocks are reviving somewhat as a pullback in US bond yields lifted some recent pressure on risk appetite. The benchmark 10-year yield (^TNX) slipped to around 4.18%, easing back from a three-month high above 4.25% hit midweek.
But the Dow and S&P 500 still look poised for downbeat weeks after taking a hard knock from that surge, amid worries the Federal Reserve will go slow on interest-rate cuts.
Read more: What the Fed rate cut means for bank accounts, CDs, loans, and credit cards
Investors are now starting to brace for potential disruption on the horizon: The November US jobs report due next Friday, and the tight presidential election a week later.
Meanwhile, the spate of earnings is easing as the week draws to a close, with Colgate-Palmolive (CL) the highlight.
At the same time, Tesla’s (TSLA) earning surprise has laid the ground for five other “Magnificent Seven” megacaps reporting next week: Google parent Alphabet (GOOG, GOOGL), Meta (META), Microsoft (MSFT), Apple (AAPL), and Amazon (AMZN).
Elsewhere in corporates, Capri (CPRI) stock cratered after a judge blocked the parent of Michael Kors from merging with Coach owner Tapestry (TPR).
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Stocks rise to cap a rough week
US stocks rose Friday morning as Treasury yields tipped lower, and as uncertainty over the Fed’s next move shadowed an earnings season in full swing.
The S&P 500 (^GSPC) rose roughly 0.5%, after the benchmark snapped a three-day losing streak. The Dow Jones Industrial Average (^DJI) added 0.4%, while the tech-heavy Nasdaq Composite (^IXIC) gained around 0.6%.
Stocks are reviving somewhat as a pullback in US bond yields lifted some recent pressure on risk appetite. The benchmark 10-year yield (^TNX)…
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