© Reuters.
By Liz Moyer
Investing.com — U.S. stocks rose as investors tried to reverse a multi-day losing streak sparked by global growth concerns.
At 10:35 ET (14:35 GMT), the was up 228 points or 0.8%, while the rose 0.8%, and the was up 0.6%.
The Bank of England, trying to stabilize the ‘s rapid descent, said it would buy long-dated government bonds.
Meanwhile, the yield on the Treasury bill backed off of 12-year highs and government bond yield fell from an 11-year high.
Today features appearances and speeches from a number of Federal Reserve officials, including Chair and . Investors have worried that the Fed’s aggressive stance on taming could tip the economy into a recession, though expectations are that the central bank will continue on its path of increases.
Stocks were also moving after a report that Apple Inc. (NASDAQ:) will not increase production of its iPhone 14, sending its own shares down more than 3%.
Shares of Biogen Inc. (NASDAQ:) surged 36% after its drug development partner Eisai Co. (TYO:) reported positive results from a trial of their latest Alzheimer’s drug. Eli Lilly and Company (NYSE:) shares rose 9%.
Investors were keeping an eye on Hurricane Ian, which is about to slam into the west coast of Florida, shutting down flights to and from the region and with the potential to cause severe damage.
Oil rose. was up 3.3%, to $81.09 a barrel, and crude was up 2.5% to $87 a barrel. rose 1.5% to $1660.
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