Stocks open higher as Treasury yields retreat
Stocks opened modestly higher on Thursday, finding support as Treasury yields pulled back from multiyear highs. The yield on the 10-year Treasury note fell 8 basis points to 3.079% after dropping more than 14 basis points on Wednesday, pulling back from a more-than-decade high seen last week. Yields and debt prices move opposite each other. The Dow Jones Industrial Average was up 115 points, or 0.4%, while the S&P 500 and Nasdaq Composite also gained 0.4%.
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