The Dow rose 59.70 points, or 0.2 percent, at 24,083.83. The Nasdaq Composite gained 2.64 points, or 0.04 per cent, to 7,009.99 at the opening bell.
On Tuesday, Caterpillar posted earnings and revenue that beat expectations, but the shares fell after the company's CFO said their first-quarter results may have been the "high watermark" for the year.
The 10-year yield, a benchmark for global borrowing costs, has been driven steadily higher by a combination of concerns over inflation, growing debt supply and rising Federal Reserve borrowing costs.
The initial growth in the markets was thanks to Caterpillar, which reported higher than expected profit and revenues.
It wouldn't be a morning without checking in on the 10-year yield Treasury yield, which has dipped below 3% this morning to 2.99%. Chemical companies and other materials makers could also see their profits affected as oil prices and other expenses rise. Stock indexes in Europe and Asia are also taking losses.
The aerospace company topped Wall Street's estimates in the first quarter and raised its forecasts for the year.
Stocks shot up at the end of 2017 and the start of 2018 as investors bet that the corporate tax overhaul would lead to bigger profits for American companies and greater economic growth. According to Kensho, an analytics company, Caterpillar's stock has had a 0.81 correlation with the Dow over the last six months.
However, Twitter fell 2.4percent after the social media company said it expects a slowdown in revenue growth and increasing costs, putting a damper on its otherwise upbeat earnings report. Gina Martin Adams, chief equity strategist for Bloomberg Intelligence, said that hasn't happened yet. The futures on the United States oil variety WTI dropped its price by 1.14% to 67.86 Dollars per barrel. Germany's DAX is down 1.4%, as the 10-year bund yield tapped its highest point since March 9.
The investors continue to keep an eye on the bond market where yields on 10-year treasuries were traded at its highest since January 2014, passing the psychological barrier of 3% for the first time in over 4 years. Meanwhile, the Alphabet stocks fell by more than 4.5%.
Declining issues outnumbered advancing ones on the NYSE by a 1.94-to-1 ratio; on Nasdaq, a 1.71-to-1 ratio favored decliners.
Later in the day, energy companies got a boost after Exxon Mobil said it is raising its quarterly dividend.
Japan's benchmark Nikkei 225 slipped 0.3 percent to 22,206.51 and Hong Kong's Hang Seng lost 0.8 percent to 30,378.89. The Dow finished up about 60 points, or 0.23, at 24,083, with Boeing's stock contributing about 96 points to the blue-chip average.
Juanfran was substituted in the 65th minute of Atletico's 0-0 home draw with Real Betis in La Liga on Sunday. Costa scored four goals in six previous appearances against Arsenal in three years at Chelsea .
First-time claims for unemployment insurance fell to 209,000 in the week through April 21, the lowest level since 1969. They expect a bounce back in the coming months, and preliminary estimates point to 3.6% growth in the second quarter.
The two-year-old made history when her brother entered the world, thanks to the Succession to the Crown Act of 2013. Mary's in London Monday morning, will be fifth in line, knocking Prince Harry down a level.
Best bit of production: ESPN's little animation showing the Browns going through 28 starting quarterbacks since 1999 was a hoot. Throughout the draft process, the Browns said they felt Mayfield had admitted to his mistakes and they were behind him.
Most of the planned reforms also have a practical goal like revamping Saudi Arabia's economy in the face of lower oil prices. Saudi Arabia's powerful conservative clerics claimed Western movies did not meet their hard-line interpretations of Islam.
The officials actually conferred after the whistle, but to review Maker's foul, not the potential shot clock violation. The injury occurred during a March 11 game against the Indiana Pacers when he dove to the ground for a loose ball.
It's a little hard to gather anything about what we can expect from the adapted story as the trailer doesn't reveal too much. It follows Camille Preaker, a journalist (Adams) who returns to her hometown to cover a string of murders.
The US President tweeted that he would be looking at a "full pardon" after hearing of the boxer's case through the Rocky actor. Former Senate Majority Leader Harry Reid, D-Nev., had also called for a pardon.
Later that afternoon Giroux received a text message from Couturier that said: "Yeah, I'm pulling a Prongs". Shayne Gostisbehere had just one goal in six games despite playing with Provorov for most of the series.
Big box electronics retailer Best Buy said last month that it would stop selling Huawei smartphones . Ciena and Infinera, of course, compete with both Huawei and ZTE in worldwide markets (except China ).
Now that Spider-Man exists in the Marvel Cinematic Universe , " Venom " exists separately from the Tom Holland movie. The trailer ends with Brock being enveloped by the alien symbiote as he declares, " We are Venom ".
White House physician drops out as nominee to lead VA
The VA issued a statement late Wednesday that it would push to have Congress move on an expansion of Choice next month. Tester spokeswoman Marnee Banks said the office would not comment until it knew more about the White House records.
Chicago Bears: Reaction to the Roquan Smith pick
Smith can occasionally get engulfed by linemen, and he may need to improve his hand use to become more effective taking on blocks. This is a stark differnce from the 2017 NFL Draft, when Isaiah McKenzie was the only Georgia taken at all during the NFL draft.
Jose Mourinho Regrets His Past Rows with Arsene Wenger
Dave: If ever there was a match which showed the results of Arsenal's gradual decline over the last few years, that was it. Let's hope the two teams serve up a game worthy of Wenger's legacy at Old Trafford on Sunday.
Rate of kids with autism in Maryland jumps to one in 50
The medical community also has improved the way it documents the disease and is better at identifying autism-related behaviors. A Centers for Disease Control and Prevention report finds that 1 in 59 US children on average are on the autistic spectrum.
North Korea's nuclear test site has collapsed: Geologists
Addressing a joint meeting of Congress on Wednesday, Macron said he was confident the USA will rejoin the Paris climate agreement. The US Treasury and South Korean Ministry of Strategy and Finance are finalising the currency terms, they said.
Brian Dozier extends longest active hitting streak
On the next pitch, Tyler Austin sent a two-run home run 409-feet into left-center field, turning a 12-1 lead into a 14-1 lead. They also saw their first-inning earned run average climb to 7.41, easily the worst inning for their pitchers before Monday.
Amir Khan KOs Phil Lo Greco in 39 Seconds
But, despite the long break from stepping into the ring, Khan certainly reminded everyone watching of his searing hand speed. The only times I let my hands go a little wild are when I know I have hurt my opponent and I just want to get him out.