US Equity Indexes Rise as Surging Crude Oil Lifts Treasury Yields

12:37 PM EDT, 10/23/2025 (MT Newswires) -- US equity indexes advanced midday Thursday as government bond yields rose after new sanctions on Russia boosted crude oil prices.

The Nasdaq Composite climbed 0.7% to 22,906.1, with the S&P 500 up 0.4% to 6,728.5 and the Dow Jones Industrial Average 0.2% higher at 46,665.9.

Energy and technology were among the top gainers intraday, while consumer staples led the decliners.

The Trump Administration late Wednesday imposed new sanctions on Russia's two largest oil producers, Rosneft and Lukoil, blocking any dealings with the two companies. The European Union also imposed new sanctions, barring imports of Russian liquefied natural gas. India made fresh promises to end the purchase of Russian oil.

West Texas Intermediate crude oil futures surged 5.7% to $61.82 a barrel.

Most US Treasury yields rose, with the 10-year yield up 4.4 basis points to 4% amid concern that the feed-through of higher oil prices to inflation could make it challenging for doves to push for deeper interest-rate cuts. The two-year yield advanced 3.2 basis points to 3.48%.

In company news, Tesla (TSLA) shares fell 1.3% intraday, among the worst performers on the Nasdaq, after the company posted lower adjusted Q3 earnings that missed analysts' expectations.

International Business Machines (IBM) raised its full-year revenue growth outlook while reporting better-than-expected Q3 results. But, annual growth in the hybrid cloud business was lower compared with the previous three-month period. IBM (IBM) shares slid 1.2% intraday, among the Dow's steepest declines.

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