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• The 10-year Treasury yield rose 8.2 basis points to 3.037%
Despite rising higher on Monday, US stocks trimmed earlier gains after the 10-year Treasury yield breached 3% ahead of the next big inflation report later this week.
The Dow Jones Industrial Average crawled upwards by 16.08 points, or less than 0.1%, at 32,915.78 after periodically dipping into negative territory. The S&P 500 was up by 12.89 points, or 0.3%, at 4,121.43, while the Nasdaq Composite gained 48.64 points, or 0.4%, to end at 12,061.37.
The CPI reading for May is expected to be just slightly cooler than April, which could be interpreted by some as a confirmation that inflation has peaked.
The 10-year Treasury yield rose 8.2 basis points to 3.037% as investors await May’s consumer-price index report on Friday.
Market movers
The US-traded shares of Didi (NYSE: DIDI) jumped more than 24%.
Shares of Twitter Inc. (NYSE: TWTR) finished lower by 1.5% after Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk said that he could terminate the merger if the former did not provide the information regarding spam and fake accounts.
Shares of Amazon (NASDAQ: AMZN) rose nearly 2% following a 20-for-1 stock split.
Shares of Apple Inc. (NASDAQ: AAPL) rose 0.5% after the company introduced its new MacBook Air and MacBook Pro models.
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