TH: U.S. Stocks Gain as Rising Bond Yields Signal Recovery
NEW YORK (TheStreet) -- U.S. stock were gaining Wednesday morning, snapping a two-day losing streak, as rising bond yields signaled to investors that the U.S. economic recovery may be strengthening.
The S&P 500 was adding 0.6% to 1,635.92 while the Dow Jones Industrial Average was advancing 0.8% to 15,234.95. The technology-heavy Nasdaq was gaining 0.5% to 3,454.52.
PVH (PVH_), the clothing maker, gained 0.7% to $111.99 on Wednesday after postomg first-quarter earnings of $1.35 a share on revenue of $1.91 billion.
The benchmark 10-year Treasury was rising 2/32, diluting the yield to 2.184%. The dollar was up 0.12% to $81.21 according to the U.S. dollar index.
