NEW YORK—U.S. stocks rallied Tuesday as Treasury yields eased, but Wall Street remains wobbly as investors wait for more clarity on where interest rates, inflation and the economy are heading.
The S&P 500 climbed 39.25 points, or 1 percent, to 4,160.68 after reversing a morning loss of 1 percent. The Dow Jones Industrial Average rose 264.36 points, or 0.8 percent, to 33,180.14 after it also bounced between losses and gains throughout the day. The Nasdaq composite gained 113.86 points, or 0.9 percent, to 12,175.23.
Gains by Apple, Microsoft, and other technology stocks were some of the biggest forces lifting the market. They benefited from a drop in Treasury yields, with the 10-year yield falling back below 3 percent. Lower yields in recent years have emboldened investors to pay higher prices for stocks, particularly companies that are growing quickly….