Stocks are reversing off lows as yields remain elevated following the latest economic data.

The higher for longer narrative is starting to make a come back with the 10-year yield hitting its highest level since November 2023.

Seven sectors are in red as investors gear up for quarterly reports from JPMorgan (JPM), Wells Fargo (WFC) and Citi (C) tomorrow.

Fed officials voice no urgency to cut interest rates too quickly when inflation appears to be on a “bumpy” path back to the Fed’s annual target at 2%.