Stocks approach records as bond yields and oil prices ease

The S&P 500 was poised to open near record highs Tuesday as Treasury yields eased from multi-year highs and oil prices fell. The index closed Monday 0.6% below its record, while the Nasdaq finished at a record high.

Thirty-year Treasury yields fell to 5.64% after reaching 5.702% a day earlier. Oil prices dropped nearly 2% as Middle Eastern exports held up and a G7 stockpile release eased supply concerns. Investors are watching for the third-quarter earnings season, which begins next week.

Analysts expect S&P 500 earnings to rise more than 30% year over year, largely on strength from AI-related companies, according to LSEG data. A softer-than-expected payrolls report last week also reduced expectations for near-term Federal Reserve rate hikes.

Read the full story at wtvbam.com.