Investing.com-- The S&P 500 closed lower Monday as Treasury yields climbed as Fed speakers continue to echo the need for more gradual pace of rate cuts, though a Nvidia-led climb in tech kept losses in check.The 2-year Treasury yield, which is sensitive to Fed policy, jumped 7 basis points to 4.025%, and the 10-year Treasury climbed above 4%, as investors appear more cautious over the rate cut path ahead.
Prints from a string of major chipmaking firms are also due this week, coming after earnings from industry bellwethers ASML , which is set to report quarterly results on Wednesday, rose more than 3% after unveiling a new proposal to its machinists' union, with members of the union set to vote on the proposal on Wednesday.
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