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Stocks post small gains as the Mag 7 cushion against a wobbling AI trade, rising oil prices, and higher interest rates.
The Invesco QQQ Trust, which tracks the Nasdaq, has posted the lowest decline amongst its peers so far this week, bolstered in part by the resilience of major technology stocks and continued strength in the AI sector.
After the 10-year Treasury yield rose as high as 5.34% for the first time since 2002, stock traders are fiercely debating when the selloff in bonds will start to trigger pain for a resilient US stock market.