U.S. stocks jumped in what was a choppy session, reversing steep losses as investors jockeyed around rising bond yields, the upcoming Federal Reserve meeting and a host of earnings.
|I:DJI||DOW JONES AVERAGES||32637.19||+516.91||+1.61%|
|I:COMP||NASDAQ COMPOSITE INDEX||11740.650441||+305.91||+2.68%|
The Nasdaq Composite and the S&P 500 rose 1.6% and 0.6%, respectively. While the Dow Jones Industrial Average, reversed a 400+ point drop, closing higher by over 85 points or 0.3%.
The 10-Year Treasury yield topped 3% before settling at 2.99% the highest since November 2018.
Along with the Fed, 152 companies in the S&P 500, or almost one-third of the benchmark index, are set to report. So far more than half the companies in the index have provided earnings.
In stocks, Spirit Airlines rejected an enhanced offer from JetBlue, the discount carrier said it prefers the initial offer from Frontier.
|SAVE||SPIRIT AIRLINES INC.||19.86||+0.99||+5.25%|
|ULCC||FRONTIER GROUP HOLDINGS||9.52||+0.60||+6.73%|
|JBLU||JETBLUE AIRWAYS CORP.||10.61||+0.35||+3.41%|
Apple in focus after Warren Buffett disclosed in an interview with CNBC that he purchased $600 million worth of the shares last quarter.
In energy trading, U.S. crude rose $105.17 per barrel level, while Brent, the global benchmark, ticked up to $107.58.
|USO||UNITED STATES OIL FUND L.P.||84.59||+2.11||+2.56%|
|BNO||UNITED STS BRENT OIL FD LP UNIT||33.32||+0.73||+2.24%|
The Associated Press contributed to this report.