U.S. Stocks Open Higher as Bond Yields Rise, Earnings Roll In
2022.04.19 17:27
By Liz Moyer
Investing.com — Stocks rose in early trading on Tuesday, undeterred by rising bond yields as corporate earnings continued to roll in.
At 9:55 AM ET, the Dow Jones Industrial Average was up 269 points, or 0.8%, while the S&P 500 was up 0.7% and the NASDAQ Composite was up 0.6%.
The benchmark 10-year Treasury rose to 2.9%, a level not seen in four years. Rising bond yields have weighed on tech stocks in recent days as the Federal Reserve comes closer to raising interest rates again next month. Many expect the central bank to announce a half-point increase, which is more than its customary quarter-point move.
Lockheed Martin Corporation (NYSE:LMT) and Johnson & Johnson (NYSE:JNJ) both beat expectations for earnings in the recent quarter, though they both fell short on revenue expectations. Netflix Inc (NASDAQ:NFLX) is expected to report earnings after the closing bell this afternoon.
Crude oil prices fell as Russia’s war with Ukraine continued. The price of AT&T Inc (NYSE:T), the U.S. benchmark, fell 3.7%, to $103.66, and the price of Brent Oil Futures, the international standard, fell 3.5% to $109.22.
Gold Futures fell 0.9% to $1967/oz.
