Markets Close: US Today

2.3 basis points — The drop in the 2-year Treasury yield after Fed Governor Christopher Waller signaled a preference to hold rates steady at the September meeting, sparking a market-wide rally.

Money Moves

• S&P 500 rose 0.5% to 7,666 — The index notched its first positive session of the week as Treasury yields stabilized and bargain hunters stepped in.
• Dow Jones gained 0.6% to 53,061 — Blue chips led the advance, buoyed by falling yields and a weaker...