U.S. stocks close mixed on rising Treasury yield, earnings

NEW YORK, April 25 (Xinhua) -- U.S. stocks ended mixed on Wednesday as investors were monitoring the bond market as well as the latest corporate earnings.

The Dow Jones Industrial Average added 59.7 points, or 0.25 percent, to 24,083.83. The S&P 500 climbed 4.84 points, or 0.18 percent, to 2,639.40. The Nasdaq Composite Index was down 3.62 points, or 0.05 percent, to 7,003.74.

The benchmark 10-year Treasury yield traded around 3.02 percent on Wednesday after breaking above 3 percent for the first time since 2014 in the previous session.

The yield, a barometer for mortgage rates and other financial instruments, has jumped in April on signs of rising inflation.

Analysts said the stock market was under pressure as investors worried that climbing borrowing costs may slow the economy. A move in the yield above 2.9 percent earlier this year sparked a correction for U.S. equities.

Meanwhile, investors paid close attention to the latest corporate earnings. Of the S&P 500 companies that have reported, 83 percent have posted better-than-forecast earnings, according to the latest data from U.S. research firm FactSet.

Shares of Boeing closed 4.19 percent higher on Wednesday as the company reported earnings that beat market estimates earlier in the day. Enditem