Wall Street edged slightly higher this morning, with futures for the S&P 500 up 0.2% and Dow Jones Industrial Average futures rising 0.3%, the Associated Press reports.
Stocks had been broadly rising since last week, with the “Trump trade” sweeping U.S. markets following Donald Trump’s presidential victory. They gave back some of their big gains Tuesday, however, and the Russell 2000 index of smaller companies fell a market-leading 1.8%. Even Tesla, which is run by Trump ally Elon Musk, sank. It dropped 6.1% for its first loss since before Election Day.
A jump in Treasury yields also added pressure on the stock market, as trading of U.S. government bonds resumed following Monday’s Veterans Day holiday. The yield on the 10-year Treasury jumped to 4.42% on Tuesday from 4.31% late Friday, which is a notable move for the bond market.
In the crypto market, bitcoin soared to another record before pulling back. Bitcoin got as high as $89,995, according to CoinDesk, before dipping back toward $89,500. It started the year below $43,000.
In energy trading, benchmark U.S. crude gained 3 cents to $68.15 per barrel. Brent crude, the international standard, fell 6 cents to $71.83 per barrel.
In currency trading, the U.S. dollar edged up to 155.09 Japanese yen from 154.51 yen.
