Boeing's big gain ends five-day losing streak for the Dow

US stocks set to open little changed as 10-year yield approaches 3

US stocks set to open little changed as 10-year yield approaches 3

USA stock indexes swung between gains and losses on Wednesday, as Boeing's jump after upbeat results and outlook was negated by declines in technology stocks and rising US bond yields.

The index fell a total of 424.56 points or 1.74 percent by closing to 24,024.13, dropping a total of 751.21 points from its session high following a 131-point increase to open trading.

The S&P 500 index rose 4 points, or 0.2 percent, to 2,639. The Nasdaq composite dropped 148 points, or 2.1 percent, to 6,983.

On Tuesday, bellwether Caterpillar posted earnings and revenue that beat expectations, but the shares fell after the company's CFO said their first-quarter results may have been the "high watermark" for the year. That means costs for companies are up. Twitter posted a better-than-expected profit and revenue for the first quarter. 3M said raw materials costs are rising, especially for materials derived from crude oil, whose price has been rising, and transportation and logistics expenses are rising as well.

Shares of the world's biggest planemaker rose 2.8 percent after its profit jumped by more than half in the first quarter and the company raised its full-year forecasts for cash flow and earnings.

Comcast rose 3.7 percent after the USA cable company submitted a $31 billion offer for pay-TV group Sky, challenging an already agreed but lower takeover bid from Rupert Murdoch's Fox.

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Pompeo has been making the rounds on Capitol Hill, meeting with previous "yes" votes, such as Manchin and Democratic Sen. Many Democrats argue he's too hawkish on US policy toward Iran, North Korea and elsewhere to lead the diplomatic corps.

Other technology stocks in the FAANG group, Facebook, Inc and Netflix Inc, also weighed on the Nasdaq.

Investors expected strong profit growth this year thanks to the growing global economy and tax cuts President Trump signed last year.

"It's not a mystery why these things are happening", Baumohl said. Elsewhere, aerospace company Boeing lost 2.9 percent to $329.06. YIELDS QUESTION: Bond prices slipped again Tuesday. "This market rally for the last nine years has been driven by low interest rates, accommodating monetary policy and excess liquidity", said Oliver Pursche, chief market strategist for Bruderman Asset Management in NY. It shed 1.4 percent to $67.70 a barrel in NY the previous day.

The Russell 2000 is down 10.84 points, or 0.7 percent. Meanwhile, the Alphabet stocks fell by more than 4.5%. Natural gas rose 1.5 percent to $2.78 per 1,000 cubic feet. The Shanghai Composite shed 0.3 percent to 3,119.31.

Declining issues outnumbered advancing ones on the NYSE by a 1.94-to-1 ratio; on Nasdaq, a 1.71-to-1 ratio favored decliners.

Benchmarks in Hong Kong and South Korea fell as much as 1% by midday, while a number of other markets logged declines of at least 0.5%.

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