Stocks mixed as strong data boosts bond yields - Fox Business

Phil Flynn of The Price Futures Group joins Great Hill Capital chairman Thomas Hayes on 'The Claman Countdown'

U.S. stock indexes were mixed Monday as a critical week kicks off on Capitol Hill.

The Dow Jones Industrial Average rose 100 points, or 0.29%, while the S&P 500 index slipped 0.21% and the Nasdaq Composite index fell 0.71%.

Ticker	Security	Last	Change	Change %
I:DJI	DOW JONES AVERAGES	34939.16	+141.16	+0.41%
SP500	S&P 500	4452.55	-2.93	-0.07%
I:COMP	NASDAQ COMPOSITE INDEX	14992.753441	-54.95	-0.37%

Lawmakers on Capitol Hill will have their hands full this week with expected votes on President Biden’s $3.5 trillion spending plan, a bipartisan infrastructure deal and raising the debt ceiling all set to take place.

Durable goods orders rose 1.8% last month, exceeding the 0.7% increase that analysts surveyed by Refinitiv were expecting. Following the strong report, traders sold U.S. Treasurys, pushing the yield on the 10-year note up 4 basis points to 1.49%, where it was on track for its highest close since late-June.

In stocks, JPMorgan Chase & Co., Citigroup Inc. and Citizens Financial Group Inc. were among the names benefitting from rising bond yields and a steeper yield curve.

Ticker	Security	Last	Change	Change %
JPM	JPMORGAN CHASE & CO.	167.25	+4.29	+2.63%
C	CITIGROUP, INC.	72.59	+1.44	+2.02%
CFG	CITIZENS FINANCIAL GROUP, INC. (RHODE ISLAND)	47.34	+1.98	+4.37%

Oil-related names, including Chevron Corp., ExxonMobil Corp. and Haliburton Co., outperformed as West Texas Intermediate crude oil climbed $1.37 to $75.35 a barrel. WTI has not closed above $75 since July.

Ticker	Security	Last	Change	Change %
CVX	CHEVRON CORP.	102.91	+2.29	+2.28%
XOM	EXXON MOBIL CORP.	59.37	+1.74	+3.01%
HAL	HALLIBURTON CO.	22.24	+1.23	+5.87%

Meanwhile, Alphabet Inc., Microsoft Corp. and Apple Inc. lagged as mega-cap technology and other growth areas were out of favor.

Ticker	Security	Last	Change	Change %
GOOG	ALPHABET, INC.	2,842.24	-10.42	-0.37%
MSFT	MICROSOFT CORP.	294.01	-5.34	-1.78%
AAPL	APPLE, INC.	145.62	-1.30	-0.89%

Tesla Inc. was in focus after reports said CEO Elon Musk sent a letter to employees telling them this is the company’s "most intense delivery week ever."

Ticker	Security	Last	Change	Change %
TSLA	TESLA, INC.	795.77	+21.38	+2.76%

Overseas markets were mixed.

European trading was choppy as Germany’s DAX 30 advanced 0.21% after election results showed the center-left Social Democrats narrowly beat outgoing Chancellor Angel Merkel’s conservatives.

Elsewhere in the region, France’s CAC 30 rose 0.22% and Britain’s FTSE 100 slid 0.08%.

CLICK HERE TO READ MORE FROM FOX BUSINESS

In Asia, China’s Shanghai Composite index and Japan’s Nikkei 225 lost 0.84% and 0.03%, respectively, while Hong Kong’s Hang Seng index ticked up 0.07%.

Adblock test (Why?)