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S&P 500 closes higher for third straight session, utilities lead sectors

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Yahoo Finance markets reporter Emily McCormick looks at market and sector gains after the close, as well as crude oil and bitcoin prices.

Video Transcript

JARED BLIKRE: Welcome back. It was a seesaw day on Wall Street with stocks getting a late day boost from those FOMC minutes. Emily McCormick is here with a breakdown of the day's action. Emily, take it away.

EMILY MCCORMICK: Well, Jared, as you mentioned, certainly a choppy day on Wall Street. A lot of intraday action with the S&P 500 turning negative briefly towards the middle of the day, and then turning positive after those FOMC minutes, and ending in positive territory for a third straight day.

Now, similar story here for the NASDAQ composite, as well as the Dow also moving to the upside, to close out the session higher. And all of this coming as we saw a move higher as well in the 10-year T-note yield. We saw that break back above 2.9%, although, certainly, well off those highs that we saw in the middle of last month, as we've continued to be talking about.

Then I also want to highlight the move that we saw in the commodity space today. Crude oil prices, US crude oil prices, still hovering below that $100 per barrel mark, really seeing that downward slide here in these prices, as these recession concerns have remained elevated.

And then also want to shift over into the sector action that we're seeing inside of the S&P 500, because we did have energy the laggard during today's session, whereas on the flip side, we had the defensive utility sector, as well as, actually, the information technology sector leading to the upside. And then finally, I want to leave you guys with a look here at the cryptocurrency space, another area we've been watching closely. And again, we do have Bitcoin prices--

JARED BLIKRE: Mostly.

EMILY MCCORMICK: --moving forward.

JARED BLIKRE: It's been $20,000 for about a week. That's what it seems like.

EMILY MCCORMICK: Well, that's true. We are sort of hovering in this rangebound area, but down by about 1% today, again, as we continue to see Bitcoin trading now.

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