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  4. US stocks trade mixed as bond yields ease, investors wait on earnings

US stocks trade mixed as bond yields ease, investors wait on earnings

Jennifer Sor   

US stocks trade mixed as bond yields ease, investors wait on earnings
  • US stocks traded mixed as investors digested the latest moves in the Treasury market.
  • After surging above 5% early Monday, the 10-year US yield dipped 8 basis points to trade around 4.84%.

US stocks traded mixed Monday as investors assessed intraday swings in the bond market and braced for a wave of incoming corporate earnings.

After briefly topping 5% early Monday morning, the yield on the 10-year US Treasury fell to around 4.84% in the afternoon. That decline allowed stocks to regain some footing.

Still, investors remain concerned over the prospect of higher-for-longer interest rates in the economy, which have pushed bond yields steadily higher throughout 2023. Investors are pricing in a 97% chance interest rates will stay above 4% by the end of 2024, according to the CME FedWatch tool, which could influence bond yields to remain elevated as well.

Meanwhile, about 40% of all S&P 500 firms are set to report their results for the past quarter this week. That includes popular mega-cap tech stocks like Alphabet, Microsoft, and Amazon, which have benefited enormously this year amid Wall Street's excitement for AI.

Here's where US indexes stood at the 4:00 p.m. closing bell on Monday:

Here's what else happened today:

In commodities, bonds, and crypto:

  • West Texas Intermediate crude oil dipped 2.6% to $85.82 a barrel. Brent crude, the international benchmark, fell 2.28% to $90.06 a barrel.
  • Gold slipped 0.26% to $1,976.35 per ounce.
  • The 10-year Treasury yield slid 7 basis points to 4.85% on Thursday.
  • Bitcoin rose 4.33% to $31,203.63.


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