US stock market today (May 20, 2026): S&P 500 nears record high, easing Treasury yields lift sentiment

US stocks moved higher on Wednesday and edged toward their first gain in four sessions as easing pressure in the bond market and stronger-than-expected corporate earnings supported investor sentiment.The S&P 500 rose 0.3 per cent in early trade, moving closer to the record high reached last week. The Dow Jones Industrial Average slipped 62 points, while the Nasdaq Composite gained 0.6 per cent, AP reported.Treasury yields eased slightly, offering some relief after recent concerns over rising borrowing costs. The yield on the benchmark 10-year US Treasury slipped to 4.64 per cent from 4.66 per cent late Tuesday, although it remains well above levels seen before the Iran conflict began.Higher yields have raised concerns for markets because they increase borrowing costs for households and businesses, including sectors such as artificial intelligence infrastructure and data centre investments.Oil prices also retreated, easing some concerns around inflation and economic growth.US benchmark crude fell $2.65 to $101.50 a barrel, while Brent crude declined $2.89 to $108.39 per barrel. However, gasoline prices in the US continued to rise, with the average price increasing by 3 cents overnight to $4.56 a gallon, according to AAA data.Among individual stocks, TJX Companies, parent of TJ Maxx and Marshalls, climbed 5.4 per cent after reporting quarterly profit and revenue above analysts' expectations.Target shares gained 2 per cent after the retailer posted stronger first-quarter sales and raised its annual revenue outlook.The company, which has been implementing a turnaround strategy under its new chief executive earlier this year, said it expects the momentum to continue through 2026.Investor attention is now focused on Nvidia's quarterly earnings due after market close.The chipmaker has repeatedly exceeded Wall Street expectations and its results are expected to influence broader sentiment around technology stocks and the artificial intelligence sector.Nvidia shares had fallen 0.8 per cent on Tuesday but rose 1.8 per cent in pre-market trading on Wednesday.Markets in Europe traded higher, with Germany's DAX rising 0.5 per cent and France's CAC 40 advancing 0.6 per cent. Britain's FTSE 100 was largely unchanged.Asian markets, however, remained under pressure. Japan's Nikkei 225 fell 1.2 per cent, Hong Kong's Hang Seng declined 0.6 per cent and Shanghai's Composite Index slipped 0.3 per cent. South Korea's Kospi lost 0.9 per cent, while Australia's S&P/ASX 200 dropped 1.3 per cent.