Stocks Rise on Falling Treasury Yields; Broadcom Drops After Strong Earnings
U.S. stock markets rose midday as falling Treasury yields eased pressure from rate hike expectations, with the Nasdaq Composite up over 1%, the S&P 500 gaining more than 1%, and the Dow Jones Industrial Average climbing nearly 1.2%. The decline in the 10-Year Treasury yield to 4.75% contributed to a shift toward growth stocks as investors reassessed Federal Reserve policy ahead of its September meeting. Broadcom shares fell despite reporting better-than-expected earnings, while Snowflake surged over 20% after delivering strong Q2 results. Robinhood Markets also gained following analyst upgrades. Nvidia rose on news it will acquire AI platform Hugging Face.
Tickers: $AVGO $HOOD $NVDA $SNOW
Topics: broadcom earnings Fed rate hike outlook Nvidia acquisition Snowflake stock surge Treasury yields