Wall Street holds steadier as bond yields and bitcoin stabilize

NEW YORK (AP) — The U.S. stock market held steady on Tuesday as both bond yields and bitcoin stabilized.

The S&P 500 rose 0.2% following its first loss in six days. The Dow Jones Industrial Average added 185 points, or 0.4%, and the Nasdaq composite gained 0.6%.

Boeing soared 10.1% and was one of the strongest forces lifting the S&P 500. Chief Financial Officer Jay Malave said the plane maker expects growth next year in an underlying measure of how much cash it produces.

MongoDB also helped lead the market and jumped 22.2% after the database company delivered stronger results for the latest quarter than analysts expected. United Natural Foods climbed 4.6% after reporting a stronger profit than expected.

They helped offset a 6.8% drop for Signet Jewelers, which gave a forecast for revenue in the holiday shopping season that fell short of analysts’ expectations. The jeweler said it’s expecting “a measured consumer environment.”

Another potential warning about U.S. shoppers’ strength came from the chief financial officer of Procter & Gamble, the giant behind Tide detergent and Ivory soap. Andre Schulten said the landscape for U.S. consumers is “volatile” at the moment, though still within the company’s expectations. Procter & Gamble slipped 1.1%.

The U.S. economy has been holding up overall, but that’s masking sharp divisions beneath the surface. Lower-income households are struggling with inflation that’s still higher than anyone would like. Richer households, meanwhile, are benefiting from a stock market that’s within 1% of its all-time high set in late October.

In the bond market, Treasury yields calmed following their jumps the day before. The 10-year yield edged down to 4.08% from 4.09% late Monday, while the two-year yield eased to 3.51% from 3.54%.

Higher yields can drag prices lower for all kinds of investments, and those seen as the most expensive can take the biggest hit.

Bitcoin, which tumbled below $85,000 on Monday as bond yields worldwide marched higher, pulled back above $91,000. That helped stocks of several crypto-related companies bounce back from sharp slides on Monday.

Strategy climbed 5.8% and more than made up for Monday’s loss. Coinbase Global gained 1.3%, and Robinhood Markets rose 2.2% to recover some of their drops from the day before.

All told, the S&P 500 rose 16.74 points to 6,829.37. The Dow Jones Industrial Average added 185.13 points to 47,474.46, and the Nasdaq composite gained 137.75 to 23,413.67.

Monday’s climb in Treasury yields came after the Bank of Japan hinted that it may raise interest rates there soon. But hopes are still high that the Federal Reserve will cut its main interest rate when it meets in Washington next week.

What comes after that for the Fed, though, is uncertain. The Fed has already cut its overnight interest rate twice this year in hopes of shoring up a slowing job market. But lower rates can fan inflation higher, and inflation has stubbornly remained above the Fed’s 2% target.

Complicating things is the U.S. government’s earlier shutdown, which delayed reports on the job market and other areas of the economy.

Investment giant Vanguard said its data suggest the U.S. labor market “remains stable but is still soft compared with last year.”

Overall hiring numbers are slower on a month-to-month basis. But fewer workers are going after job openings because of weaker immigration and an uptick in retirements, according to Adam Schickling, a senior U.S. economist at Vanguard. That in turn means hiring doesn’t need to be as strong as in the past to keep the unemployment rate steady.

In stock markets abroad, indexes moved modestly across much of Europe and Asia.

South Korea’s Kospi was an outlier and jumped 1.9% for one of the world’s bigger moves. Tech stocks helped lead the way, including rises of 2.6% for Samsung Electronics and 3.7% for chip company SK Hynix.

AP Business Writers Matt Ott and Elaine Kurtenbach contributed.

Options trader Joseph D'Arrigo works on the floor of the New York Stock Exchange, Tuesday, Dec. 2, 2025. (AP Photo/Richard Drew)

Trader Vincent Napolitano works on the floor of the New York Stock Exchange, Tuesday, Dec. 2, 2025. (AP Photo/Richard Drew)

Traders Fred Demarco, left, and Edward McCarthy work on the floor of the New York Stock Exchange, Monday, Nov. 24, 2025. (AP Photo/Richard Drew)

Trader Michael Capolino works on the floor of the New York Stock Exchange, Monday, Nov. 24, 2025. (AP Photo/Richard Drew)

Options trader Steven Rodriguez, left, works on the floor of the New York Stock Exchange, Monday, Nov. 24, 2025. (AP Photo/Richard Drew)

Specialist Anthony Matesic works on the floor of the New York Stock Exchange, Thursday, Nov. 20, 2025. (AP Photo/Richard Drew)

A person stands in front of an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, Nov. 25, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)

WASHINGTON (AP) — Donovan Mitchell scored 24 of his 48 points in the fourth quarter, leading the Cleveland Cavaliers back from a 15-point deficit in the final period to a 130-126 victory over the Washington Wizards on Friday night.

The Cavaliers went 15 of 53 from 3-point range, with Darius Garland going 0 for 11, but Mitchell connected from long range to tie the game at 122. Then he put Cleveland ahead to stay, scoring inside with 60 seconds remaining.

With the Cavaliers still up 124-122, Washington's Marvin Bagley III rebounded a miss, but Mitchell tied him up, forcing a jump ball. The 6-foot-11 Bagley has 8 inches on Mitchell, but both players mistimed their jumps and Lonzo Ball came up with possession for Cleveland. He made two free throws with 30.9 seconds left.

Mitchell's layup with 5.9 seconds to play put the Cavaliers up by six.

Cleveland attempted 34 3-pointers in the first half. The Cavaliers didn't shoot well but were still up 62-60 after two quarters. The third period was a fiasco for Cleveland that included Ball hitting nothing but glass on a breakaway layup attempt, and Nae'Quan Tomlin fouling out with 2:24 left in the period. Tomlin accumulated his six fouls in just 10:05 of playing time.

Washington led by as many as 17 points and was up 100-85 after three.

Mitchell started the fourth with 11 points in just over 2 1/2 minutes, cutting the margin to five with a 3-pointer. He was assessed a technical foul with 5:16 to play after making a layup, and he left the game then. But he quickly returned to play a decisive role down the stretch.

Bub Carrington and CJ McCollum scored 27 points apiece for Washington, and Jamir Watkins added a career-high 15.

Cavaliers: Host Charlotte on Sunday.

Wizards: At Indiana on Sunday.

AP NBA: https://www.apnews.com/hub/nba

Cleveland Cavaliers center Evan Mobley, left, hangs from the rim after dunking against Washington Wizards forward Kyshawn George, right, during the first half of an NBA basketball game Friday, Dec. 12, 2025, in Washington. (AP Photo/John McDonnell)

Cleveland Cavaliers guard Donovan Mitchell, left, looks to shoot against Washington Wizards guard Bub Carrington, right, during the first half of an NBA basketball game Friday, Dec. 12, 2025, in Washington. (AP Photo/John McDonnell)

Cleveland Cavaliers guard Donovan Mitchell (45) prepare to shoot against Washington Wizards guard Bub Carrington, left, during the first half of an NBA basketball game Friday, Dec. 12, 2025, in Washington. (AP Photo/John McDonnell)