Rising bond yields pressure stocks; Medtronic upgrades outlook; AI cuts legal costs at major banks.

Rising U.S. Treasury yields, with the 10-year surpassing 4.8%, are pressuring equities, especially growth stocks, amid concerns over fiscal deficits and potential rate hikes. Analysts expect immediate government intervention to contain long-term yields. Medtronic raised its full-year outlook after strong Q1 results, while Howmet Aerospace is seen as a buying opportunity despite recent declines. Major banks like Goldman Sachs, Morgan Stanley, and Citi are pushing law firms to reduce costs using AI, signaling shifts in legal billing practices.