Posted 4/1/2024, 2:37:00 PM
Stocks Mixed as Yields Climb, Manufacturing Grows
- Major indexes started April trading mixed - Dow down 0.6%, retreating from near 40K level; S&P 500 fell 0.3%; Nasdaq down 0.1%
- 10-year Treasury yield ticked up to 4.31% as manufacturing expanded for first time since Sept 2022
- Surging yields put pressure on stocks, make borrowing more expensive for companies
- Dow down due to declines in top components UnitedHealth, Goldman Sachs, Home Depot
- Nasdaq buoyed by Alphabet hitting new all-time high, Micron up 7.2% on AI hype