: Dow up 100 points in final hour of trade as 10-year Treasury yield steadies

U.S. stocks were higher Thursday in the final hour of trade, but off the session’s best levels as volatility in the $25 trillion Treasury market continued to be a key focus for investors. The Dow Jones Industrial Average DJIA was up about 107 points, or 0.3%, trading near 33,655, according to FactSet. The S&P 500 index SPX was up 0.6% and the Nasdaq Composite Index COMP was 0.8%, after trading over 1% higher earlier in the session. Longer-dated BX:TMUBMUSD10Y Treasury yields were showing signs of stabilizing after shooting higher in recent session after the Federal Reserve indicated rates could stay higher than expected next year, and potentially beyond, while the central bank works to bring inflation down to its 2% yearly target. That has a lot of focus on Friday’s release of the Fed’s preferred inflation gauge, the personal-consumption expenditures price index (PCE) for August. Oil prices CL.1 pulled back and technology stocks gained on Thursday, helping to lift equity indexes. The 10-year Treasury yield was off 2 basis points at 4.59%.

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