Global News

[ad_1] U.S. stocks were mixed and benchmark Treasury yields jumped to their highest level since March on Thursday as robust economic data helped ease recession fears, but also increased the odds that the Fed will keep its restrictive policy in place for longer than expected. Financials led the gainers after the Federal Reserve’s stress test showed U.S. lenders have adequate capital to weather an economic storm. The Dow was up most among the three major U.S. stock indexes, the S&P 500 was up only nominally while the Nasdaq lingered in negative territory, weighed down by interest rate sensitive megacaps. Smallcaps were clear outperformers, with the Russell 2000 well ahead of the pack, up 1.1%. “What we have seen year-to-date is a very narrow rally that is occasionally punctuated by participation from the smaller stocks," said Michael Green, chief strategist at Simplify Asset Management in Philadelphia. “I believe we’re ahead of where we should be, and most observers are per...