Welcome to Markets Desk, your midday read on what's moving.
Equities found their footing today as bond yields pulled back, lifting the S&P five hundred by more than half a percent and giving the Dow a similar lift. Lower yields eased pressure on valuations, and investors responded by stepping back into risk assets across the board.
Pulling yields down was a deliberate move from the Treasury, which announced plans to boost liquidity and increase buybacks of long-dated bonds. That sent the dollar index to a two-and-a-half-month low, down nearly one percent on the session, while gold caught a bid as the greenback softened and real rates compressed.
Meanwhile in the software space, ServiceNow led a broad rally as investors grow more convinced that legacy software platforms can hold their ground against AI disruption rather than be swept aside by it. That confidence is spreading across the sector, with traditional enterprise names reclaiming ground they had ceded to AI-native competitors in recent months.
That's the tape. Markets Desk, signing off the floor.
