With the earnings season now halfway through, the percentage of S&P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages.
Rising Treasury yields have investors cautious despite positive news from the earnings season.
The yield on the long-dated 30-year Treasury bond has surged to 4.79%. It’s on track to close at the highest level since early November, ahead of crucial economic data on Thursday.