U.S. stocks opened higher Thursday, the last trading session of the week as bond yields retreated further and investors considered the White House's proposed infrastructure package. The Dow Jones Industrial Average DJIA, +0.26% gained 120 points, 0.4% to open near 33,102, and the S&P 500 SPX, +0.70% jumped 28 points, 0.7%, to breach 4,000. The tech-focused Nasdaq Composite Index COMP, +1.44% added 168 points or 1.3% to start trading near 13,415.
Markets have been rattled over the past few weeks by sharp spikes in bond yields that come as investors assess the outlook for inflation in the face of a fast-growing economy and more government spending. The benchmark U.S. 10-year note TMUBMUSD10Y, 1.696% slipped slightly on Thursday, however. Shares of Johnson & Johnson Inc. JNJ, -1.20% fell after the opening bell after the company reported that some of its COVID-19 vaccine did not meet quality standards.
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