us stocks fell wednesday as investors weighed another batch of us earnings including results from morgan stanley us bancorp and phoenix arizonaheadquartered regional bank western alliance while global government bonds yields rose after the uk posted hotterthanexpected inflation on tuesday stocks struggled for direction with the dow falling 11 points the sp 500 eking out a 01 gain and the nasdaq composite posting a marginal decline us stock traded lower wednesday as sticky doubledigit inflation in the uk sparked selling of government bonds youve got sovereign yields up across the world and that generally causes a riskoff mood in the equity markets tavis mccourt managing director of institutional equity strategy at raymond james said in a call the yield on the 2year treasury note climbed 72 basis point to 428 on tuesday according to dow jones market data still with markets seemingly more relaxed of late about the trajectory of us interest rates  the chances of the federal reserve increasing borrowing costs by 25 basis points in two weeks time is priced at 88  attention currently is more focused on company profits results from the uss first quarter corporate earnings season are mixed so far while major banks that have reported earnings mostly surprised the market to the upside particularly regarding their revenue in fixed income currency and commodity trading noted andy kapyrin cochief investment officer at ci regentatlantic private wealth investors have been paying particular attention to the banking sector after several banks including silicon valley bank collapsed last month traders are also eyeing the performances of megacap technology companies partly due to the size of the market share they represent meanwhile i think this is the first economic cycle that some of these large tech firms have experienced where the secular trends that they are back arent enough to overcome some of the cyclical trends that could inhibit their growth according to kapyrin the mixed start of earnings season has left stocks struggling to extend their recent rally the sp 500 remains stuck within though near the top of the 3800 to 4200 range it has inhabited for about five months minimal moves and a more relaxed mood saw the cboe vix index  a gauge of expected stock market volatility close below 17 on tuesday its lowest since january 2022 this week we will have a better grip on earnings as the flow of corporate results makes its way on wall street we note that the indices have had a solid run to the up side and could be headed for a slight pullback that we will not likely impact the longer term upward trend said peter cardillo chief market economist at spartan capital we therefore expect the near term trend to remain bullish with the sp 500 testing the 4250 area in the short term he added investors will be expecting earnings from teslatsla and ibmibm among others after the market closes wednesday the federal reserves beige book of economic anecdote will be published at 2 pm and new york fed president williams is due to speak at 7 pm all times eastern this content was created by marketwatch which is operated by dow jones  co marketwatch is published independently from dow jones newswires and the wall street journal