Stocks fall in choppy session, 10-year Treasury hits 2.86%
Netflix, Tesla top this week's earnings roster
Jason Katz says peak inflation may be upon us
UBS managing director and senior portfolio manager Jason Katz discuss whether the U.S. is nearing a turning point on inflation.
U.S. markets ended lower on Monday as bond yields rose and investors braced for a new onslaught of corporate earnings.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 43870.35 | +461.88 | +1.06% |
| SP500 | S&P 500 | 5948.71 | +31.60 | +0.53% |
| I:COMP | NASDAQ COMPOSITE INDEX | 18972.420086 | +6.28 | +0.03% |
The Dow Jones Industrial Average fell over 39 points or 0.1%, while the S&P 500 and the Nasdaq Composite lost 0.01% and 0.14%, respectively. This week, seven Dow members and 66 S&P 500 companies, or about 13% of the benchmark index, will release earnings.
Health care and consumer staples led the drop as the day's worst performers.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XLV | HEALTH CARE SELECT SECTOR SPDR ETF | 144.03 | +1.15 | +0.80% |
| VDC | VANGUARD WORLD FUND VANGUARD CONSUMER STAPLES V | 217.87 | +2.59 | +1.20% |
Financials bucked the selling as the 10-year Treasury rose to 2.86%, a fresh 52-week high.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XLF | FINANCIAL SELECT SECTOR SPDR ETF | 50.17 | +0.63 | +1.27% |
Energy stocks also rose as U.S. oil topped $108 per barrel and Brent $113.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XLE | ENERGY SELECT SECTOR SPDR ETF | 97.12 | +0.78 | +0.81% |
| USO | UNITED STATES OIL FUND - USD ACC | 73.20 | +1.18 | +1.64% |
| BNO | UNITED STATES BRENT OIL FUND - USD ACC | 29.57 | +0.44 | +1.51% |
Gold also saw some action briefly crossing the $2,000 level before settling at $1,982.90 an ounce.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST - USD ACC | 246.66 | +2.04 | +0.83% |
In Monday's results, Bank of America shares rose after posting first-quarter profits of $0.80 cents per share, exceeding analyst estimates but down from $0.86 cents during the same period a year ago.
In this photo provided by the New York Stock Exchange, specialist Stephen Naughton, right, works at his post on the floor, Thursday, April 14, 2022. (Courtney Crow/New York Stock Exchange via AP)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BAC | BANK OF AMERICA CORP. | 46.46 | +0.40 | +0.87% |
Housing stocks drifted down following the National Association of Homebuilders' April sentiment report, which slid to the lowest level since September as rising interest rates and affordability remain overhang for the industry.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TOL | TOLL BROTHERS INC. | 152.36 | +0.45 | +0.30% |
| LEN | LENNAR CORP. | 168.07 | -0.16 | -0.10% |
| DHI | D.R. HORTON INC. | 161.82 | -1.31 | -0.80% |
Twitter remains in focus after the board implemented a poison pill to weaken Elon Musk's $43 billion takeover offer.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TWTR | NO DATA AVAILABLE | - | - | - |
Later in the week, Musk's Tesla will report earnings, along with Netflix and a host of others including IBM and AT&T.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 339.64 | -2.39 | -0.70% |
| NFLX | NETFLIX INC. | 897.48 | +13.63 | +1.54% |
| IBM | INTERNATIONAL BUSINESS MACHINES CORP. | 222.40 | +7.80 | +3.63% |
| T | AT&T INC. | 22.98 | +0.15 | +0.66% |
United and American Airlines are also set to report results later in the week.
FDA PROBES LUCKY CHARMS’ POSSIBLE LINK TO ILLNESSES
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAL | AMERICAN AIRLINES GROUP INC. | 14.20 | -0.26 | -1.80% |
| UAL | UNITED AIRLINES HOLDINGS INC. | 94.40 | -0.23 | -0.24% |
CONTAINER SHIP STUCK IN BOTTOM OF BAY FOR OVER A MONTH FLOATS AGAIN
In cryptocurrencies, Bitcoin hovered above the $40,000 level.
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The Associated Press contributed to this report.