WASHINGTON : Wall Street opened higher Monday while U.S. Treasury yields hit three-year highs as investors eyed corporate earnings and what Russia's invasion of Ukraine could mean for global growth.
Stocks were up in early trading, with the Dow Jones Industrial Average rising 0.22per cent, the S&P 500 climbing 0.25per cent and the Nasdaq Composite up 0.23per cent. Markets were closed in Australia, Hong Kong and many parts of Europe for the Easter holiday. "Stocks continued to search for sustained upside momentum amid high inflation readings, interest rates on the rise, and dashed hopes for a cease fire in Ukraine," said Chris Larkin, managing director at E*TRADE.
"Despite nascent signs that inflation could be easing and hawkish Fed bets being trimmed, a 50bps rate hike for May looks all but locked in," wrote Deutsche Bank analysts in a note.