Market Update: Stocks Rise, Biden Blocks Steel Acquisition, Treasury Yields Retreat

Stocks edged higher on Thursday as investors assessed corporate earnings, with small caps outperforming and airline stocks continuing their upward momentum. Tesla declined to 15-month lows following a downgrade from Deutsche Bank, while Bitcoin rebounded ahead of the highly anticipated halving event. The Philadelphia Fed Manufacturing Index posted a sharp upside surprise, but existing home sales disappointed expectations. Commodities experienced a rebound, with copper and gold showing strength, and natural gas prices rallying. Notable stock movers included Discovery Financial Services, Genuine Parts Company, and Alaska Air Group, among others, reacting to earnings.