A continued rise in the 10-year Treasury yield has major indexes mostly sinking to start the week, with the Dow locking in a fourth-straight loss and the S&P 500 logging its fifth. The Nasdaq also spent the day in the red but managed to inch into the black in the last few minutes of trading. Also weighing heavy on Wall Street briefly were tech stocks, with only about half of mega-cap and FAANG names able to claw their way to a gain by the end of the day.
The Dow Jones Average (DJI - 36,068.87) shed 162.8 points or 0.5% for the day. Intel (INTC) led the gainers today, adding 3.3%, and Nike (NKE) paced the laggards with a 4.2% fall.
The S&P 500 Index (SPX - 4,670.29) slipped 6.7 points or 0.1% for the day. Meanwhile, the Nasdaq Composite (IXIC -14,942.83) inched 6.9 points higher, or 0.05%, for today's session.
Lastly, the CBOE Volatility Index (VIX - 19.40) added 0.6 points or 3.4% for the day.
CONTINUED SUPPLY DELAY SENDS OIL LOWER
Supply delays out of Kazakhstan and Libya combined with a lack of demand due to increasing Covid-19 cases globally. February-dated oil shed 67 cents, or almost 0.9%, to finish at $78.23 per barrel.
Gold futures inched higher as the U.S. dollar rose and Treasury yields continued to climb. February-dated gold added $1.40, or 0.1%, to close at $1,798.80 per ounce.
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