US Stock Market Today: S&P 500 Rises 1.1% & NASDAQ Gains 1.4% as US-China Trade Tensions Ease and Bank Earnings Beat Forecasts

Bond yields dropped as investors sought safety amid ongoing trade uncertainty. The yield on 10-year US Treasuries decreased by two basis points to 4.01%. The 30-year Treasury yield also slipped, falling to 4.60%. 

Germany’s 10-year yield dropped five basis points to 2.57%, while the UK’s equivalent declined by six basis points to 4.53%. The two-year US yield remained essentially unchanged at 3.49%.

The Bloomberg Dollar Spot Index weakened by 0.2% as the euro and British pound gained. The euro edged up to $1.1624, and the pound rose to $1.3365. The Japanese yen appreciated 0.3%, reaching 151.40 per dollar.

Gold increased by 1.3%, with gold prices at $4,200 an ounce, on a surge in demand for safe-haven commodities. Market volatility continued with conflicting signals on trade negotiations, as President Trump mentioned the possibility of suspending imports of Chinese cooking oil.