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2026.09.0320:08:00UTC+00US Stocks Gain as Treasury Yields Retreat

US stock indices finished higher on Thursday as the recent surge in bond yields paused, providing support to interest rate–sensitive sectors. The S&P 500 climbed 1.1%, the Dow Jones Industrial Average advanced 624 points, and the Nasdaq Composite gained 1.2%.

Federal Reserve Governor Christopher Waller indicated that an additional rate hike would not be justified if underlying inflation continues to cool, a notable shift from his earlier emphasis on upside inflation risks. In response, Treasury yields retreated.

Credit-sensitive software names outperformed: Microsoft rose 2.7%, Meta gained 3%, Oracle jumped 5.7%, and Palantir surged 7.7%. Semiconductor stocks were mixed, with Nvidia and Intel each advancing 1.8%, while Broadcom slid 2.7% despite reporting a 221% year-on-year increase in revenue in its latest fiscal quarter. Hewlett Packard Enterprise added 5% even though its results missed expectations.

Big financials also bolstered the Dow, with JPMorgan up 1.6%, Goldman Sachs gaining 3.3%, and Morgan Stanley rising 2.5%.

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