US stocks struggled for direction on Monday as investors took stock of rising bond yields, eurozone economic uncertainty, and the upcoming earnings season ahead of a relatively quiet week.
The Dow Jones Industrial Average fell 0.2%, while the S&P 500 rose 0.2%. The tech-heavy Nasdaq Composite gained 0.4%. Markets ended last Friday in a rally on pared-back Fed rate-hike bets.
The 10-year Treasury yield rose 2 basis points to 5.30%, hovering near its highest levels since 2007.
The market has remained remarkably resilient amid recent turmoil in the bond market and the ongoing war in the Middle East. The 10-year Treasury yield at 5.28% and Brent crude oil futures above $100 per barrel have put investors on edge, with some strategists seeing plenty of reasons for a pullback — while others see more room for a rally to run.
