Wall Street grows thanks to declining bond yields

On Tuesday, Wall Street's major indices opened higher as the largest-cap hi-tech stocks strengthened, inflation fears eased and US bond yields fell for the fourth day in a row. Analysts note that the yield on 10-year Treasury bonds on Tuesday fell to a new two-week low.

As a result, the Dow Jones Industrial Average rose 22.20 points, or 0.06%, to 34416.18, the S&P 500 rose 2.92 points, or 0.07%, to 4199.97, and the Nasdaq Composite rose by 29.20 points, or 0.21%, to 13690.37.

The S&P 500 is within 1% of its all-time high of May 7. Moreover, it recorded 22 new 52-week highs and one new low, while the Nasdaq recorded 58 new highs and 19 new lows.

Boeing gained 2.4% after SMBC Aviation Capital agreed to buy 14 more 737 MAX aircraft. Lordstown Motors Corp. shares plunged 13.7% after EV makers announced much lower production in 2021.