Stocks Fall, Rates Climb Ahead Of Big Earnings Week That Includes Netflix And TeslaStocks added to last week’s losses:
The Dow Jones Industrial Average fell
0.1%, less than 100 points, while the
S&P 500 was flat and the tech-heavy
Nasdaq Composite lost
0.1%.Government bond yields climbed higher yet again on Monday, with the closely watched ten-year Treasury note spiking up to
2.88% — its
highest level since 2018, after having traded at less around 1.7% just two months ago.
Wall Street experts are now increasingly warning that
quarterly earnings are likely to take a hit, as surging inflation leads to rising costs, which will impact both corporate profit margins and consumer spending.
Shares of brokerage
Charles Schwab fell over
10% on Monday after disappointing quarterly earnings, while
Bank of America, meanwhile, reported results that came in slightly above expectations, with its stock rising over
3%.
