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: S&P 500 ekes out gain as oil climbs, Treasury yields punch higher

U.S. stocks ended mostly higher on Wednesday in a choppy session that saw major equity gauges swing between gains and losses. The Dow Jones Industrial Average DJIA ended 68 points lower, or 0.2%, finishing near 33,550, according to preliminary FactSet data. The S&P 500 index SPX eked out a less than 0.1% gain, even though its energy segment rose 2.5%, while the Nasdaq Composite Index COMP gained 0.2%. Stocks have been under pressure as Treasury yields punch higher and investors gauge if the Federal Reserve will make good on its revised forecast to keep interest rates higher for longer than earlier anticipated. The 10-year Treasury yield BX:TMUBMUSD10Y rose 6.7 basis points to 4.625%, the highest since October 2007, while the 30-year Treasury yield BX:TMUBMUSD30Y climbed to 4.731%, putting long Treasury bonds closer to the 5% mark. Short-term Treasury bills have been at 5% yields for some time. Oil prices also continued to march toward $100 a barrel, with U.S. crude futures CL00 settling at $93.68 a barrel.

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