Off the wire
• Lula da Silva accepts to be presidential candidate despite prison sentence  • Hollywood actor criticizes U.S. gov't for pulling out of Paris climate agreement  • Lula da Silva accepts to be presidential candidate despite prison sentence  • Hollywood actor criticizes U.S. gov't for pulling out of Paris climate agreement  • Lula da Silva accepts to be presidential candidate despite prison sentence  • Hollywood actor criticizes U.S. gov't for pulling out of Paris climate agreement  • Lula da Silva accepts to be presidential candidate despite prison sentence  • Hollywood actor criticizes U.S. gov't for pulling out of Paris climate agreement  • Lula da Silva accepts to be presidential candidate despite prison sentence  • Hollywood actor criticizes U.S. gov't for pulling out of Paris climate agreement  
You are here: 　

U.S. stocks open lower as bond yields rise

Xinhua,February 20, 2018 Adjust font size:

NEW YORK, Feb. 20 (Xinhua) -- U.S. stocks opened lower on Tuesday as high Treasury yields kept investors on edge.

Shortly after the opening bell, the Dow Jones Industrial Average lost 128.14 points, or 0.51 percent, to 25,091.24. The S&P 500 decreased 9.85 points, or 0.36 percent, to 2,722.37. The Nasdaq Composite Index was down 26.46 points, or 0.37 percent, to 7,213.00.

The benchmark 10-year U.S. Treasury yield rose to 2.902 percent, putting pressure on the stocks.

Rising bond yields are traditionally seen as bad for stocks as it means large companies will have to spend more to finance their debts as interest rates increase.

On the earnings front, Walmart on Tuesday reported earnings that missed analysts' expectations for the holiday period. The retail giant reported adjusted earnings per share of 1.33 U.S. dollars, lower than the 1.37 dollars expected. Shares of the company plunged more than 9 percent to trade at 95.43 dollars apiece in early trading.

Meanwhile, Home Depot, also a Dow component, reported earnings that topped Wall Street's expectations. It reported adjusted fourth quarter adjusted earnings per share of 1.69 dollars, higher than 1.61 dollars expected. Shares of the company rose 1.17 dollars to trade at 188.14 dollars apiece in early trading.

The markets were closed on Monday because of President's Day holiday. Enditem

 

Related News & Photos