Investors are awaiting a Federal Reserve report about economic conditions known as the Beige Book, which is expected to be released at 2:30 p.m. ET.
Early Wednesday, the yield on the benchmark 10-year Treasury note reached 1.673%, its highest level since May, up from 1.634% Tuesday. It then eased down to 1.644%. “Higher yields mean stock valuations start to look more challenging and it undermines the ‘no alternatives’ argument for stocks if bonds start to yield something meaningful,” Mr. Ganesh said. “We’re not near that point yet, but if we incrementally move up, investors will start to grow a little more concerned.”. The cryptocurrency has climbed more than 7% in the past two days.Overseas, the pan-continental Stoxx Europe 600 advanced 0.2%. Nestlé shares climbed 2.
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