US Stocks Begin Week Lower as Treasury Yields Climb With Crude Futures

Last Updated: Monday, June 27, 2022 4:16 PM | MT Newswires

US equity benchmarks closed lower in the first trading session of the week while government bond yields rose and crude oil futures advanced.

The Dow Jones Industrial Average fell 0.2% to 31,438.26, the S&P 500 down 0.3% to 3,900.11 and the Nasdaq Composite 0.7% lower at 11,521.74 on Monday. The DJIA and the S&P 500 were climbing around midday before returning shortly to negative territory, failing to keep a rally going from last week when growth-oriented sectors shined.

Communication services and consumer discretionary were among the steepest decliners, while energy led the gainers.

The US 10-year yield jumped 8.1 basis points to 3.2%.

West Texas Intermediate crude oil futures advanced 2.1% to $109.84 per barrel.

Gold was down 0.4% to $1,823.40 per troy ounce.

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