Wall Street headed higher early today as markets continue to recoup the week’s earlier losses, the Associated Press reports. Futures for the Dow Jones Industrial Average and the S&P 500 each rose 0.6% before the bell.
Markets were broadly steadier as Treasury yields in the bond market slowed their jump from earlier in the week. Yields had been climbing as traders pushed back their forecasts for how soon the Federal Reserve will begin cutting interest rates. Higher yields in turn undercut prices for stocks and raise the pressure on the economy. The yield on the 10-year Treasury steadied today at 4.14%, right where it was late Thursday.
Spirit Airlines jumped close to 36% after the budget carrier pre-announced strong fourth-quarter revenue and improved margins, boosted by a strong holiday travel season.
In energy trading, benchmark U.S. crude lost 30 cents to $73.65 per barrel. Brent crude, the international standard, gave up 29 cents to $78.81 per barrel.
The U.S. dollar inched down to 148.04 Japanese yen from 148.15 yen.
