U.S. stock benchmarks opened slightly higher on Monday, but investors were focused on climbing government bond yields and a wave of corporate results from technology companies this week.
The Dow Jones Industrial Average rose nearly 50 points, or 0.2%, at 24,521, the S&P 500 index advanced 0.2% at 2,675, while the Nasdaq Composite Index climbed 0.3% at 7,168. The 10-year Treasury yield was last at 2.967% after settling at 2.949% late Friday in New York, the highest afternoon level since January 2014. Yields rise as bond prices fall. Climbing yields translate into greater costs for U.S. corporations, unless underpinned by a commensurately growing economy.
Meanwhile, Halliburton Co. shares fell even after swinging to a profit in the first quarter, with crude-oil prices falling sharply in early trade Monday, putting pressure on energy stocks Looking ahead, some 180 companies are expected to report earnings this week, marking the busiest period for corporate results this season.
Source : Marketwatch