U.S. stocks were mixed in Monday’s final hour of trading, with Dow industrials attempting to recover from earlier losses and down by 7 points. Meanwhile, the S&P 500 and Nasdaq Composite were up by 0.7% and 1.
5%, respectively, and on their way to bouncing back after suffering three straight weekly losses. Stocks were being pressured by a continued rise in long-term Treasury yields, as investors priced in a growing likelihood of higher-for-longer theme in U.S. rates. Meanwhile, Wall Street seemed confident that Nvidia Corp. will post a “beat-and-raise” earnings report on Wednesday.
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