Stocks break two-day win streak | Tesla’s quarterly results are in | Treasury yields peaking soon?

The major averages slumped on Wednesday as bond yields leapt.

VIEW IN BROWSER | SUBSCRIBE WED, OCT 19, 2022 EVENING BRIEF AS OF WED, OCT 19, 2022 • 04:45 ET DJIA 30423.81 -0.33% -99.99 S&P 500 3695.16 -0.67% -24.82 NASDAQ 10680.51 -0.85% -91.89 Most Active DOW NAME LAST CHG %CHG AAPL 143.86 +0.11 +0.08% INTC 26.00 +0.13 +0.50% VZ 36.57 -0.50 -1.35% S&P 500 NAME LAST CHG %CHG AMD 57.23 -0.69 -1.19% CCL 7.68 -0.40 -4.95% TSLA 222.04 +1.85 +0.84% NASDAQ NAME LAST CHG %CHG AMD 57.23 -0.69 -1.19% TSLA 222.04 +1.85 +0.84% AAPL 143.86 +0.11 +0.08% EDITOR'S NOTE A few high-profile earnings success stories were not enough to extend Wall Street's rally to a third day, as the bond market refused to play along.   The benchmark 10-year Treasury yield jumped well above 4% on Wednesday and is once again trading at its highest levels since 2008.  That move appeared to overshadow some blowout earnings reports from Netflix and United Airlines, which sent the two large stocks sharply higher.    While the "resiliency" of earnings so far has been encouraging, the market is still taking its cues from Washington, D.C., according to Angelo Kourkafas, investment strategist at Edward Jones.    "Clearly for this year it is all about inflation data and indications from the Fed. They are in the driver's seat when it comes to direction of travel for the markets," Kourkafas said.  Jesse Pound | CNBC Markets Reporter @jesserpound Watch our live stream for all you need to know to invest smarter. TOP NEWS  Stocks snap two-day winning streak as 10-year yield hits highest level since 2008 Tesla comes in light on revenue, beats on earnings Mortgage demand drops to a 25-year low, as interest rates climb Putin imposes martial law on annexed regions; 'Battle for Kherson' could be imminent as civilians told to flee Treasury yields could be peaking soon and that could ease some pressure on stocks Interactive Brokers' Thomas Peterffy sees the S&P 500 dropping nearly 20% from here UK PM Liz Truss says she's a 'fighter not a quitter' as lawmakers plot to oust her Jeff Bezos is the latest to warn on the economy, saying it's time to 'batten down the hatches' Biden says oil companies should ramp up production instead of buying back stock and paying dividends Millions at risk of losing health insurance if U.S. ends Covid public health emergency in January TOP VIDEO Biden: The Energy Department will release an additional 15 million barrels of oil from SPR CNBC PRO 15 risky and hated stocks that could rally if market keeps bouncing SPECIAL REPORTS IRS: Here are the new income tax brackets for 2023 SPAC liquidations top $12 billion this year as sponsors grapple with tough market, new buyback tax Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS