US stocks bounced back Tuesday as both bond yields and bitcoin stabilized.
- The S&P 500 rose 16.74 points, or 0.2%, to 6,829.37, following its first loss in six days.
- The Dow Jones Industrial Average rose 185.13 points, or 0.4%, to 47,474.46.
- The Nasdaq composite rose 137.75 points, or 0.6%, to 23,413.67.
Boeing was one of the strongest forces lifting the market. It gave an encouraging forecast for how much cash it will produce next year and rose 10.1%, the
AP reports. Treasury yields eased following their jumps the day before. Bitcoin rose back above $91,000 after tumbling below $85,000 on Monday.
MongoDB also helped lead the market and jumped 22.2% after the database company delivered stronger results for the latest quarter than analysts expected. United Natural Foods climbed after reporting a stronger profit than expected, and it rose 4.6%. They helped offset a 6.8% drop for Signet Jewelers, which gave a forecast for revenue in the holiday shopping season that fell short of analysts' expectations. The jeweler said it's expecting "a measured consumer environment."
Another potential warning about US shoppers' strength came from the chief financial officer of Procter & Gamble, the giant behind Tide detergent and Ivory soap. Andre Schulten said the landscape for US consumers is "volatile" at the moment, though still within the company's expectations. Procter & Gamble slipped 1.1%. The US economy has been holding up overall, but that's masking sharp divisions beneath the surface. Lower-income households are struggling with inflation that's still higher than anyone would like. Richer households, meanwhile, are benefiting from a stock market that's within 1% of its all-time high set in late October.