"Stocks Plummet as 10-Year Treasury Yield Surges Above 5%"
Wall Street stocks rebounded as the benchmark U.S. Treasury yield eased below 5%, leading to a shift in investor focus towards upcoming high-profile earnings reports and economic data. The three major U.S. stock indexes reversed earlier losses, with interest rate-sensitive momentum stocks benefiting from the decline in yields. This week will see a flurry of earnings reports from companies in the S&P 500, including tech giants like Microsoft and Alphabet, as well as heavy-hitting industrials such as General Motors and Boeing. Analysts are hoping for positive surprises from these companies. Additionally, market participants are keeping an eye on geopolitical turmoil, particularly the Israel-Hamas conflict.