The US markets closed mostly higher on Wednesday, with the two market gauges erasing early losses to turn positive in afternoon trading as strong corporate earnings appeared to overshadow an ongoing rise in bond yields. Nasdaq is lower for fifth straight session, the longest streak in more than a year. Extending a recent trend, moves in the bond market influenced trading in US stocks as Treasury yields stepped higher. The yield on the 10-year note climbed 3 basis points to 3.026% and neared its highest level since December 2013. Earnings season also remained in focus, amid releases by a number of bellwether companies. So far this reporting season, more than 80% of the S&P 500 companies with reports out have beaten profit forecasts.
The Dow Jones Industrial Average added 59.7 points or 0.25 percent to 24,083.83, the S&P 500 was up by 4.84 points or 0.18 percent to 2,639.40, while the Nasdaq dropped 3.615 points or 0.05 percent to 7,003.74.