Oct. 10 news updates: Birkenstock sets IPO at $46 a share, investors cut bets on U.S. interest rate hikes

U.S. stocks rose and bond yields fell on Tuesday as investors scaled back expectations for near-term interest rate hikes.

The benchmark S&P 500 ended the day up 0.5 percent, while the tech-heavy Nasdaq Composite gained 0.6 percent.

Meanwhile, Treasury yields fell across all maturities, reversing some of last week’s dramatic move that pushed prices lower and yields to 16-year highs.

On Tuesday, the two-year yield, which moves in line with interest rate expectations, fell 0.13 percentage points to 4.96 percent. The benchmark 10-year yield fell 0.15 percentage points to 4.65 percent.

After comments from government officials this week, investors have scaled back their expectations that the Federal Reserve will raise interest rates again this year. Atlanta Fed President Raphael Bostic said Tuesday that monetary policy was sufficiently tight to bring inflation to 2 percent.