Equities gain with chipmakers; oil rises to 5-week high
By Caroline Valetkevitch and Ankur Banerjee NEW YORK/SINGAPORE, July 21 (Reuters) - Major stock indexes rose on Tuesday with the Nasdaq and chipmaker shares surging, while oil prices climbed to a five-week high amid rising tensions in the Iran conflict. Benchmark 10-year U.S. Treasury yields reached a two-month high as traders considered whether the renewed spike in oil prices will feed through to consumer prices and raise the odds of Federal Reserve interest rate hikes further.
By Caroline Valetkevitch and Ankur Banerjee NEW YORK/SINGAPORE, July 21 (Reuters) - Major stock indexes rose on Tuesday with the Nasdaq and chipmaker shares surging, while oil prices climbed to a five-week high amid rising tensions in the Iran conflict. Benchmark 10-year U.S. Treasury yields reached a two-month high as traders considered whether the renewed spike in oil prices will feed through to consumer prices and raise the odds of Federal Reserve interest rate hikes further.
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