US equity indexes rose after midday on Wednesday as a decline in volatility and pull-back in crude oil amid higher government bond yields aided risk sentiment.
The Nasdaq Composite rose 0.3% to 17,971.6, with the S&P 500 up 0.1% to 5,716.62 and the Dow Jones Industrial Average less than 0.1% higher at 42,189.7. Technology led the gainers intraday, while consumer staples and real estate were among the decliners.
Israeli forces and Iran-backed Hezbollah fighters engaged in fighting on the ground in southern Lebanon after Iran launched its largest-ever attack on Israel Tuesday, CNN reported. Iran's attack reportedly failed to cause any damage to Israel's critical civil and defense infrastructure as well as intelligence capabilities. Israeli Prime Minister Benjamin Netanyahu said Iran had made a "big mistake" and "will pay," divulging little else about counter-attack plans.
West Texas Intermediate crude oil was up 0.6% to $70.23 a barrel after trading more than 3% higher earlier in the day, giving up some of the Middle East risk premium.
The CBOE Volatility Index, also known as the fear gauge for investors, declined 2.4% to 18.79 after rising earlier in the session.
Most US Treasury yields rose intraday, with the 10-year yield up 4.5 basis points to 3.79% and the two-year rate 1.6 basis points higher at 3.64%.
Gold fell 0.7% to $2,671.90 an ounce, and silver climbed 1% to $32.06 as demand for haven assets receded.
In economic news, ADP's monthly measure of private payrolls showed a 143,000 increase in September, above expectations compiled by Bloomberg for a 125,000 gain. The September jump followed an upwardly revised 103,000 jobs increase in August.
In company news, Humana (HUM) shares sank 16% intraday, the worst performer on the S&P 500, after the company disclosed in a regulatory filing that the number of members enrolled for 2025 in its Medicare Advantage Plans rated four stars or higher fell to 25% from 94% in 2024.
Nike (NKE) shares dropped nearly 6% intraday, among the steepest decliners on the S&P 500 and the Dow, after the company reported lower fiscal Q1 earnings and revenue.
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