U.S. Stocks Rise After Fed As 10-Year Yield Falls Below 5%

According to CNBC, U.S. stocks rose Thursday afternoon in post-Fed trading, with the S&P 500 up about 1% as the 10-year Treasury yield fell roughly 6 basis points to 4.95%, below the key 5% level. Ten of the 11 S&P 500 sectors were higher, led by technology, up 2%, and consumer discretionary, up 1.6%, while consumer staples was the only sector in the red. U.S. oil benchmark WTI crude traded around $102 a barrel after earlier falling to $99.10. Intel was the portfolio's biggest gainer, rising more than 9%, followed by Micron, up over 5%, and Eaton, which gained after an investor conference presentation. Salesforce was down about 2% after not updating its long-term financial targets at Wednesday's Dreamforce analyst day. Johnson & Johnson CFO Joe Wolk said at the Deutsche Bank Healthcare Summit that the company expects growth rates better than its prior 5% to 7% sales-growth target for 2025-2030 and sees a clear path to double-digit growth over the next few years. He also said the company remains confident it can grow through future patent expirations and that its surgical robot Ottava is a next-decade play, while poriasis drug Icotyde has reached 17,000 patients five months after launch.