Stocks Wobbled as Traders Eyed Yields

U.S. stocks closed narrowly mixed on Tuesday as investors eyed recovery in bond yields and economic indicators that could shed light on the timing of a rate hike. The Dow Jones Industrial Average was down 2.51 points, or 0.01%, to 17,764.04. The S&P 500 was up 0.87 point, or 0.04%, to 2,080.15. The Nasdaq Composite lost 7.76 points, or 0.15%, to 5,013.87.

The US 10-year Treasury note yield (U.S.:US10Y) traded near 2.43 percent after briefly hitting 2.449 percent, the highest since Oct. 3, 2014.

U.S. regional banks could lose a big source of earnings when rules aimed at clamping down on overdraft fees come into effect. The Consumer Financial Protection Bureau has been flagging its concerns about overdraft practices since 2012 and said in July that it would address the issue with new regulations.

The surprise change in Deutsche Bank’s top leadership this week accentuates the risks at Germany’s biggest lender and creates more worry for the bank’s bond holders, credit rating agency Moody’s said on Tuesday.