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New York stocks close higher after Treasury yields reverse from 24-year high

  • New York stocks closed modestly higher on the 1st, local time.
  • U.S. Treasury yields reached a 24-year high before sharply reversing.
  • Solid employment data and rising manufacturing prices pressured sentiment early.

New York stocks finished modestly higher on the 1st, local time, after fully recovering losses recorded earlier in the session. U.S. Treasury yields reached a 24-year high before sharply reversing course. Solid employment data and signs of rising manufacturing prices weighed on investor sentiment at the open, while bargain hunting supported the subsequent recovery.

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