Overview

• The Dow Jones Industrial Average closed up 0.2%, ending a six-day losing streak, while the S&P 500 and Nasdaq Composite saw declines.
• Jerome Powell emphasized a 'higher-for-longer' interest rate stance, indicating that the Fed needs more time to be confident about controlling inflation.
• Rising bond yields reflect investor reactions to Powell's comments, with the 2-year Treasury note yield briefly hitting 5%, its highest since November.
• Corporate earnings are mixed, with UnitedHealth beating profit estimates but other key players like Johnson & Johnson and Northern Trust underperforming.
• Geopolitical tensions and high interest rates are causing fluctuations in stock and bond markets, adding to investor uncertainty.