The Dow Jones opened slightly higher Monday morning, while the S&P 500 fell and the Nasdaq retreated solidly. China power curbs are a new risk for global supply chains, while Treasury yields also extended a recent run.
The stock market rally last week went nowhere — fast. The major indexes tumbled on Monday, but then roared back, with a slew of leading stocks flashing buy signals. Bottom line: The stock market rally is back in a confirmed uptrend.
Dow Jones Today
Dow Jones rose rose 0.3% vs. fair value. S&P 500 dipped 0.25%. The Nasdaq retreated 0.8%
The 10-year Treasury yield briefly topped 1.5% for the first time since June, continuing the strong gains in recent days. Higher Treasury yields pressure growth stocks.
Durable goods orders rose 1.8% in August, much better than expected. But orders excluding transportation goods were up just 0.2%. But core capital goods orders climbed 0.5%, topping views.
Crude oil prices climbed solidly,…