Nasdaq and Dow Jones reverse course as Japan plays hardball over trade, Hasbro earnings impress

Company News - Hasbro shares increased over 7% in premarket trading due to better profit margins and the announcement of new Star Wars toys as part of a deal with Disney [3] - Procter & Gamble's shares fell 1.3% after the company reported fiscal third-quarter revenue that missed Street estimates and lowered its guidance [3] - Comcast's shares rose nearly 1% after beating Street expectations on first-quarter profit, although the company continued to lose broadband subscribers [3] - PepsiCo's stock remained relatively unchanged after missing quarterly earnings and cutting its full-year outlook due to the negative impacts of tariffs [4] Market Overview - The S&P 500 added 88 points, or 1.7%, closing at 5,376, while the Dow rose 420 points, or 1.1%, finishing at 39,607, and the Nasdaq jumped 2.5% to 16,708 [5] - The S&P is still down 5.2% since the April 2 'liberation day' announcement, indicating ongoing volatility in the market [6] - Recent tariff relief discussions have led to a flattening of the Treasury yield curve, with 10-year and 30-year Treasury yields down, while the 2-year yield rose to its highest since April 11 [7]