US equities end three session losing streak

The US stocks moved up on Wednesday, as US bond yields retreated following an announcement from the Treasury Department that it would significantly ramp up buybacks of long-dated government debt.

The Dow Jones Industrial Average added 119.65 points, or 0.22 percent, to 53,463.05. The S and P 500 added 16.22 points, or 0.21 percent, to 7,707.98. The Nasdaq Composite Index increased by 41.379 points, or 0.16 percent, to 26,331.09. All three indexes snapped a three-day losing streak.

Equities gained upward momentum after the U.S. Treasury yields eased from multi-year highs. Bond prices rallied after the Treasury Department announced plans to increase buybacks of long-dated government debt by at least double across securities in the 10-year to 30-year sector. The yield on the benchmark 10-year Treasury note fell by 5 basis points to 4.65 percent, while the 30-year bond yield dipped 9 basis points to 5.19 percent after touching its highest level since 2007 earlier in the week.

However, elevated crude oil prices are likely to weigh on market sentiments in near term. Concern about inflation deepened at the ​Federal Reserve's meeting last month, with "several" policymakers ready to raise interest rates if inflation does not decline to the US central bank's 2% target, the minutes of the meeting showed on Wednesday.

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