Stocks still have room to extend rally

(Reuters) - Major stock market gauges recovered on Friday after a bond sell-off pushed the benchmark 10-year U.S. Treasury note's yield up to 5.25 percent -- matching the fed funds rate target at one point -- from levels below 5 percent a week ago. That jump in government bond yields rattled investors who, skittish about a bull market that has lasted longer than most, worry that rising capital costs will cut corporate profits.




Around midday on Friday, stocks began rallying as the 10-year note's yield retreated to around 5.11 percent.


Read more at Reuters.com Business News