U.S. Markets

U.S. stocks rose sharply on Wednesday as Federal Reserve Chairman Jerome Powell said the central bank's focus was on supporting the U.S. economy and employment. The S&P 500 rose 44 points, or 1.1%, to end around 3,925. The Dow Jones Industrial Average gained 425 points, or 1.4%, to end near 31,962, based on preliminary numbers. The Nasdaq Composite rose 133 points, or 1%, to finish around 13,598. Like Powell, other senior Fed officials including Lael Brainard and Richard Clarida both sounded dovish on Wednesday, underlining the central bank's willingness to keep policy accommodative. Intuit Inc. shares rose 3.5% after the financial-services company reported fiscal second-quarter results late Tuesday.

Concerns from Democrats over the minimum-wage provision included in President Biden’s $1.9 trillion coronavirus relief package could force changes. WSJ’s Gerald F. Seib explains. Photo illustration: Laura Kammermann

The 30-year yield for a Treasury inflation-protected security turned positive for the first time since last June on Friday, a sign that investors are anticipating a tightening of financial conditions as the economy recovers. Negative real, or inflation-adjusted, yields were seen as a result of the Federal Reserve's accommodative monetary policy. Higher real yields therefore speak to concerns the economy may face rising borrowing costs at a time when the pandemic is continuing to hamper growth and afflict the finances of households.

U.S. stocks rose at the start of Friday's session as markets looked to bounce back from a turbulent holiday-shortened week that saw investors rattled by weak labor-market data and worries over higher borrowing costs. The S&P 500 rose 0.3% to 3,924. The Dow Jones Industrial Average advanced 40 points, or 0.1%, to 31,533. The Nasdaq Composite gained 0.5% to 13,930. Investors are keeping their eyes on Washington, after Treasury Secretary Janet Yellen repeated her calls for lawmakers to go big on a new stimulus package. Shares of Deere & Co. jumped after the construction, agriculture and turf care equipment maker reported big profit and revenue beats for the fiscal first quarter.

President Biden signed dozens of executive orders in his first few weeks in office, but his administration has moved slowly on trade. WSJ’s Gerald F. Seib explains why. Photo illustration: Laura Kammermann

Executives of Robinhood and other companies testified before Congress Thursday after January’s trading frenzy involving GameStop and other securities raised concerns about the integrity of the U.S. stock market and the rules that govern it. Photo illustration: Ang Li

The recent trading volatility of GameStop and other stocks has prompted scrutiny of key players in the saga. Probes into potential wrongdoing are centered on actions taken by both brokerages and users on social media forums. WSJ explains what regulators are looking into and why this situation is so unique. Illustration: Jacob Reynolds

U.S. stock-market benchmarks fell at the start of Thursday's session as the specter of higher borrowing costs weighed on investor sentiment. The S&P 500 slipped 0.7% to 3,902. The Dow Jones Industrial Average retreated 210 points, or 0.7%, to 31,402. The Nasdaq Composite fell 1.2% to 13,794. Some weak economic data arrived in the morning as new applications for U.S. unemployment benefits rose in mid-February to a four-week high of 861,000. Hopes of reflation have lifted bond yields but are now sparking jitters among investors who feel record-high equities are vulnerable to a pullback. The 10-year Treasury note yield was up 0.7 basis point to 1.306%, around its highest level since last February.