Stocks open mostly higher as bond sell-off takes a breather
U.S. stocks opened Tuesday’s session mostly higher as investors awaited the conclusion of a two-day meeting of the Federal Reserve amidst a backdrop of rising bond yields. The Dow Jones Industrial Average
DJIA,
lost 22 points, 0.1%, to open near 32,932, while the S&P 500
SPX,
added 4 points or 0.1%, at about 3,973. The Nasdaq Composite index
COMP,
continued to make up ground from the correction it entered last week, opening near 13,525, a gain of 66 points or 0.5%. The yield on the 10-year U.S. Treasury note
TMUBMUSD10Y,
held at about 1.60% Tuesday morning, a few basis points lower than recent highs. Retail sales fell 3% in February, and industrial output was down 2.2%, pointing to a slowdown in economic activity before the federal government agreed on a new coronavirus aid package.
