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Stocks slip as Treasury yields rise and traders weigh Fed outlook
The Dow fell 0.4% and the Nasdaq slid below the flat line, while Brent crude edged up to about $89 per barrel.
US stocks moved lower on Monday afternoon as investors weighed what the Federal Reserve could do next and looked ahead to a week of retail earnings, according to Yahoo Finance. The Dow Jones Industrial Average declined 0.4%, the S&P 500 fell 0.1%, and the Nasdaq Composite slipped below the flat line after a relatively calm week.
The report said market attention turned to retail results from big-box retailers including Walmart, Target, Lowe's, and Home Depot, as investors seek signals on consumer health for the back-to-school season.
Traders also trimmed expectations for a September rate hike at the Fed's Jackson Hole meeting to less than one-third, the outlet added, citing a mixed picture for inflation and jobs. Oil remained a key input for both markets and the Fed, with Brent crude futures edging up to about $89 per barrel.
Bond markets tightened as Treasury yields extended their gains, reflecting concerns about growing national debt, the outlet reported. It also noted that Federal Open Market Committee meeting minutes due Wednesday could provide additional clues into Fed officials' thinking.
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