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U.S. Treasury yields rose after economic data that showed the advance goods trade deficit for November narrowed to $83.35 billion from the prior month's $98.8 billion, while a separate report pointed to continued struggles for the housing market as home prices fell under rising mortgage rates. Oil pared gains as some U.S. energy facilities shut by winter storms began to restart after the commodity earlier hit a three-week high as China's latest easing of COVID-19 restrictions spurred hopes of a recovery in demand. ....
Oil futures, after hitting a three-week high earlier in the day, were a mixed bag at settlement with restarts at some U.S. energy plants shut by winter storms offseting hopes for a recovery in demand after China's latest easing restrictions. The rise in Treasury yields put pressure on growth stocks including the rate-sensitive technology sector, according to Michael O’Rourke, chief market strategist at JonesTrading in Stamford, Connecticut. ....