Dow gains 1%, broad undertone steady for US stocks

The US stocks closed mixed on Tuesday amid strong corporate earnings and a retreat in treasury yields. The overall undertone was positive after recent recovery in major indices.

The Dow Jones Industrial Average moved up 529.85 points, or 1.02%, to 52,495.88, the S&P 500 gained 21.84 points, or 0.28%, to 7,712.57 and the Nasdaq Composite eased 6.07 points, or 0.02%, to 26,424.82.

The US treasury yields eased on Tuesday as weak housing data cooled expectations of near-term Federal Reserve rate hikes. The benchmark 10-year Treasury yield slipped below 5.12 percent, down about 2 basis points from Monday's close, while the 30-year yield also eased toward 5.4 percent.

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