Stock Market Today: Dow, Nasdaq Open Higher; Treasury Yields Slip

The Treasury rally is heating up.

The 10-year Treasury yield fell after new data showed U.S. hiring unexpectedly slowed in November.

Government bonds have been in a tear lately, sending yields to the lowest level since August in the previous session. This is a sharp turnaround from the fall, when a sharp drop in bonds pushed yields toward 5% for the year. first time in 16 years. Now, some investors are wondering: Have bond yields peaked?

Signs that the labor market is cooling have led investors to increase bets that the Federal Reserve Will cut interest rates next year.. Investors will next look at the monthly jobs report due out on Friday.

In the morning market action:

US stocks rose, with all three major indices posting gains.

The Russell 2000 Index of Small Stocks surpassed his peers.

Treasury yields fell. The 10-year yield was recently at 4.123%, slightly down from 4.171% yesterday.

Bitcoin rally continued. The cryptocurrency surpassed $44,000, hitting its highest levels since early 2022, amid renewed hopes that exchange-traded funds based on real bitcoins will arrive soon.

British American Tobacco shares fell around 8% in London, dragging down the FTSE 100 index, after the company said it would take an impairment charge of $31.5 billion. Most other European indices rose.

Asian stocks rose. Japan's Nikkei 225 index rose 2%. Mainland China's CSI 300 and Hong Kong's Hang Seng Index advanced.

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