Dow ends nearly 350 points higher as earnings season begins, bond yields pull back


Stocks closed with strong gains and near session highs as earnings season began and Treasury yields pulled back. The Dow Jones Industrial Average DJIA, +1.01% finished with a gain of around 344 points, or 1%, according to preliminary figures, while the S&P 500 SPX, +1.12% rose 1.1% and the tech-heavy Nasdaq Composite COMP, +2.03% jumped 2%. Analysts said largely positive corporate results helped buoy equities, with the S&P 500 and Nasdaq breaking a three-day losing streak. Upbeat results from Delta Air Lines DAL, +6.21% boosted airline stocks. Dow component JPMorgan Chase & Co. JPM, -3.22% shares lost more than 3%, however, after the banking giant missed Wall Street estimates. The 10-year Treasury yield fell 4 basis points to 2.688%, providing support for tech and other growth stocks that are more sensitive to interest rates.

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