S&P 500 hits record as oil and yields decline
U.S. stocks hit new highs as oil prices and bond yields eased market pressure See why lower yields and oil could support markets and investor sentiment
U.S. stocks reached new highs as oil prices and bond yields moved lower, easing pressure on financial markets.
Apollo Global Management chief economist Torsten Slok said several forces could push yields toward a peak in the coming weeks, including the possibility of progress in the Middle East and efforts by the U.S. and allies to release more oil supplies.
Slok noted that higher rates are already affecting housing and auto demand, while David Rosenberg of Rosenberg Research said falling oil prices and stronger European bond markets were helping ease bond market stress on Tuesday.