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Stocks mixed as strong data boosts bond yields - Fox Business

U.S. stock indexes were mixed Monday as a critical week kicks off on Capitol Hill. 

The Dow Jones Industrial Average rose 100 points, or 0.29%, while the S&P 500 index slipped 0.21% and the Nasdaq Composite index fell 0.71%. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 34939.16 +141.16 +0.41%
SP500 S&P 500 4452.55 -2.93 -0.07%
I:COMP NASDAQ COMPOSITE INDEX 14992.753441 -54.95 -0.37%

Lawmakers on Capitol Hill will have their hands full this week with expected votes on President Biden’s $3.5 trillion spending plan, a bipartisan infrastructure deal and raising the debt ceiling all set to take place. 

Durable goods orders rose 1.8% last month, exceeding the 0.7% increase that analysts surveyed by Refinitiv were expecting. Following the strong report, traders sold U.S. Treasurys, pushing the yield on the 10-year note up 4 basis points to 1.49%, where it was on track for its highest close since late-June. 

In stocks, JPMorgan Chase & Co., Citigroup Inc. and Citizens Financial Group Inc. were among the names benefitting from rising bond yields and a steeper yield curve.

Ticker Security Last Change Change %
JPM JPMORGAN CHASE & CO. 167.25 +4.29 +2.63%
C CITIGROUP, INC. 72.59 +1.44 +2.02%
CFG CITIZENS FINANCIAL GROUP, INC. (RHODE ISLAND) 47.34 +1.98 +4.37%

Oil-related names, including Chevron Corp., ExxonMobil Corp. and Haliburton Co., outperformed as West Texas Intermediate crude oil climbed $1.37 to $75.35 a barrel. WTI has not closed above $75 since July. 

Ticker Security Last Change Change %
CVX CHEVRON CORP. 102.91 +2.29 +2.28%
XOM EXXON MOBIL CORP. 59.37 +1.74 +3.01%
HAL HALLIBURTON CO. 22.24 +1.23 +5.87%

Meanwhile, Alphabet Inc., Microsoft Corp. and Apple Inc. lagged as mega-cap technology and other growth areas were out of favor.  

Ticker Security Last Change Change %
GOOG ALPHABET, INC. 2,842.24 -10.42 -0.37%
MSFT MICROSOFT CORP. 294.01 -5.34 -1.78%
AAPL APPLE, INC. 145.62 -1.30 -0.89%

Tesla Inc. was in focus after reports said CEO Elon Musk sent a letter to employees telling them this is the company’s "most intense delivery week ever."

Ticker Security Last Change Change %
TSLA TESLA, INC. 795.77 +21.38 +2.76%

Overseas markets were mixed. 

European trading was choppy as Germany’s DAX 30 advanced 0.21% after election results showed the center-left Social Democrats narrowly beat outgoing Chancellor Angel Merkel’s conservatives.

Elsewhere in the region, France’s CAC 30 rose 0.22% and Britain’s FTSE 100 slid 0.08%. 

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In Asia, China’s Shanghai Composite index and Japan’s Nikkei 225 lost 0.84% and 0.03%, respectively, while Hong Kong’s Hang Seng index ticked up 0.07%. 

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