- Investors weighed the latest round of upbeat earnings against a backdrop of growing concerns about slowing growth and rising borrowing costs as US stocks closed higher following a sharp drop in tech shares.
- The S&P 500 managed to post modest gains in a volatile session that included a sharp drop after the index failed to break through its 200-day moving average. The tech-heavy Nasdaq-100 finished lower, while the Dow Jones Industrial Average maintained its lead among major benchmarks, rising 0.7%.
- In a session marked by steep losses and gains, equity markets see-sawed. Short-dated yields, which are the most sensitive to interest-rate changes, rose more than five basis points.
- Stocks began the day lower as investors weighed the latest mixed economic data with the Federal Reserve on track to raise interest rates. Data released on Tuesday showed a larger-than-expected drop in US home construction, while US factory output increased in July for the first time in three months.
