Good morning. Stocks fell on Monday as long-dated bond yields continued to climb amid surging oil prices, raising concerns that the Federal Reserve will need to hike rates at its policy meeting next week.
The 10-year Treasury (^TNX) crept up to 4.8% while Brent crude futures (BZ=F) topped $98 per barrel amid continued Iran-US tensions in the Middle East. Goldman Sachs analysts see a case for oil reaching $120.
Here’s a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.
Tech stocks (XLK) rose as Nvidia (NVDA) and other chip stocks gained slightly. The Energy (XLE) sector rose more than 1%, while Financials (XLF) and Consumer Discretionary (XLY), which are more sensitive to interest rates, slipped.
Here are some other notable stocks that Yahoo Finance readers are viewing this morning: Tesla (TSLA), Sandisk (SNDK), and Alibaba (BABA).
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