Wall Street Climbs as Treasury Yields and Oil Prices Pause

The three major U.S. stock indices closed higher.

The S&P 500 hovered above the 7,800 mark, while the Nasdaq finished above the 27,000 level for the third consecutive trading session.

With all sectors showing solid momentum except for healthcare, utilities surged more than 2%, and consumer discretionary stocks supported the upward trend.

The yield on the 10-year Treasury, which hovered near 5.3% the previous day to hit its highest level since 2002, slipped back to the upper 5.2% range, easing some of the pressure on investors.

In addition, international oil prices stopped their steep surge, moving sideways around the 100 dollar per barrel mark, aided by the G7 agreement to release strategic petroleum reserves. This also provided relief to the stock market by alleviating concerns over inflation stimuli and additional tightening by the Federal Reserve.

Among individual stocks, Marvell Technology soared over 5% after significantly raising its long-term revenue outlook based on explosive data center demand, and AMD also gained nearly 3% after announcing plans to substantially increase future supply volumes.

Meanwhile, the August trade deficit announced by the Department of Commerce recorded its largest scale since just before the imposition of tariffs. This was driven by a sharp increase in imports of essential capital goods, such as semiconductors and machinery required for building data centers amid the global AI boom.

The minutes of the September Federal Open Market Committee meeting, to be released tonight at 10 PM (7th), are expected to offer clues regarding the Federal Reserve's monetary policy path.
※ Please note: This article was translated by AI and may contain errors.