US Stocks End Flat Amid Oil, Bond Pressure

U.S. stocks ended a volatile session near unchanged after sudden midday reversals in Treasury yields and oil prices. The 10-year Treasury yield climbed to 5.20%, a level last matched in 2007. Rising yields raise borrowing costs and weigh on stocks. Oil swung sharply midday on Iran war uncertainty and Middle East crude supply questions. A report showed fewer U.S. workers applied for unemployment benefits last week, reinforcing growth expectations. The Fed raised its main rate last week for the first time in three years, and traders see better than a coin flip's chance of two more hikes by year end, per CME Group data. Barclays strategists wrote that the headlines have turned more ominous but the underlying drivers of growth remain intact, and that as long as AI-related investment, U.S. corporate profitability, and consumer spending continue to beat expectations, the economy and markets seem capable of absorbing tighter central banks and higher rates. Stitch Fix tumbled despite beating quarterly expectations after warning of a more challenging consumer environment that could hold back revenue growth, underscoring spending caution in the session. Darden Restaurants fell after profit matched expectations, and Nvidia was the heaviest weight on the S&P 500.