Stocks end higher as Treasury yields dip, Apple falls
STORY: U.S. stocks ended sharply higher on Wednesday after more than a week of heavy selling that left the S&P 500 at its lowest close since late 2020.
The Dow rose more than 500 points to finish roughly 1.9% higher, while the S&P 500 and Nasdaq each gained about 2%.
Stocks got some help after the Bank of England said it would step in to buy British bonds in an effort to calm volatile markets that had pushed the British pound to record lows against the dollar.
Geetu Sharma, founder and investment manager at AlphasFuture, said the move by the BoE eased investor fears of contagion across the financial system.
"I think the market is seeing that central banks will intervene in the event of market dislocation or financial stability concerns and the central banks cannot let this hawkishness that they've been demonstrating lead to any kind of dislocation, disruption in the financial markets and they will have to intervene. So it's giving hope to investors that there is the monetary policy that can come into play in the event of a big crisis or a big crash."
Shares of Apple fell after Bloomberg reported the company is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize.
Meanwhile, its Big Tech peers jumped with Microsoft, Amazon and Meta Platforms all posting big gains -- The rate-sensitive stocks getting a boost from a falling 10-year Treasury yield, which notched its biggest one-day drop since 2009.
Shares of Biogen surged nearly 40% after saying its experimental Alzheimer's drug, developed with Japanese partner Eisai, succeeded in slowing cognitive decline.
That also lifted shares of rival Eli Lilly, which is also developing an Alzheimer's drug.
相關影片推薦
- 1:47誰替吳秉叡代投票? 葉元之公布影片:疑似楊曜|#鏡新聞鏡新聞43,935 次觀看・7 小時前
- 00940該越跌越買?高勝率ETF投資組合這樣買進擊的荷包74,337 次觀看・1 週前
- 2:01長榮海運紀念品贈「薄毯」 股民趕上班前領取華視影音59,221 次觀看・8 小時前
- 1:35已婚男帶女子住高檔摩鐵 突然猝死妻錯愕|#鏡新聞鏡新聞14,270 次觀看・1 天前
- 1:28兒媳搶家產 打人 還趕公公出門? 竹北紅布條引熱議東森新聞影音261,221 次觀看・1 天前
- 2:24烏克蘭98歲阿嬤逃戰火 靠拖鞋、拐杖獨自步行10公里 從「二戰存活如今卻一無所有」Yahoo奇摩(國際通)15,443 次觀看・9 小時前
- 1:25尋生母10年! 戶政事務所牽線意外找到親哥哥民視影音7,659 次觀看・1 天前
- 1:44返台前恐已擬好計畫! 自救會嘆「得償困難」|#鏡新聞鏡新聞2,234 次觀看・1 天前
- 1:59勵志! 昆凌90歲爺爺百米短跑奪金 周杰倫驕傲曬照民視影音217,591 次觀看・4 天前
- 2:16美大學挺巴勒斯坦學運升級 UCLA示威者遭毆、營地被投擲煙火 警方進駐鎮壓Yahoo奇摩(國際通)15,485 次觀看・9 小時前