Stocks traded along the flatline on Tuesday as traders weighed rising interest rates and a potential economic recovery from the coronavirus pandemic.
The Dow Jones Industrial Average rose 56 points, or 0.2%. The S&P 500 was flat, and the Nasdaq Composite climbed 0.4%.
Intel and Chevron each rose more than 2% to lead the Dow higher. Bank stocks rose broadly, with Goldman Sachs, Bank of America, JPMorgan Chase and Wells Fargo all gaining more than 2%.
The benchmark 10-year note yield rose to 1.165%, hitting its highest level since March. The 30-year bond rate climbed 1.89%.
“There has been a short-term tone shift in the market,” wrote Gregory Faranello, head of U.S. rates at AmeriVet…