NEW YORK — (AP) — Most U.S. stocks slipped Tuesday, and Treasury yields rose on expectations that interest rates may stay high for a while.
The S&P 500 fell 10.41 points, or 0.2%, to 5,051.41. The index deepened its loss from the day before, when it sank under the pressure brought by a jump in Treasury yields. The Dow Jones Industrial Average rose 63.86, or 0.2%, to 37,798.97, and the Nasdaq composite fell 19.77, or 0.1%, to 15,865.25.
A 5.2% climb for UnitedHealth helped support the market after the insurer reported stronger results for the first three months of the year than analysts expected. Morgan Stanley was another winner, rising 2.5%, after likewise topping expectations.
But the majority of stocks fell as Treasury yields rose following comments by Federal Reserve Chair Jerome Powell. They’ve been climbing rapidly as traders give up hopes that the Fed will deliver many cutsto interest rates this year. High rates hurt prices …