Oracle forecasts AI demand to drive double-digit revenue growth

US stocks rose and Treasury yields fell on Tuesday ahead of key inflation data and the Federal Reserve’s outlook for interest rates due on Wednesday.

The blue-chip S&P 500 ended the day 0.3 per cent higher, while the tech-heavy Nasdaq rose 0.9 per cent.

Bond yields fell, with the two-year yield, which moves with interest rate expectations, down 0.06 percentage points to 4.83 per cent. The 10-year Treasury yield also fell, down 0.07 percentage points to 4.4 per cent after strong demand at an auction of $39bn of 10-year notes. 

The moves come as economists anticipate US price pressures to have eased in May.