US stocks rise as Treasury yields retreat

Wall Street stocks rose early Thursday while US Treasury bond yields retreated after government data showed the US trade deficit widened in July.

About 20 minutes into trading, the Dow Jones Industrial Average was up 0.8 percent at 53,472.82. The S&P 500 gained 0.6 percent to 7,713.68, and the Nasdaq Composite Index rose 0.9 percent to 26,455.92.

Long-term bond yields had recently reached their highest level in nearly 20 years amid concerns about inflation and the US budget deficit before pulling back.

Government data showed the US trade deficit in July widened to its largest sum since March 2025 as imports climbed.

Nvidia rose 1.7 percent after the chip company announced it will buy artificial intelligence platform Hugging Face for $12.9 billion. Hugging Face promotes open models, which can be downloaded and modified, unlike closed models from rivals such as OpenAI or Anthropic.