US stocks rally as Treasury yields pull back from earlier highs

U.S. stocks rallied yesterday as Treasury yields pulled back from earlier highs following comments from Atlanta Federal Reserve President Raphael Bostic about his favoured path of interest rate hikes for the central bank. The Dow Jones Industrial Average rose one and a half percent, the S&P 500 gained 0.8 percent and the Nasdaq Composite index added 0.7 percent.