Stock market expected to open flat, with Tesla gaining ground
Written by sidhanta
Written by sidhanta
As oil prices dipped and investors awaited more information on the Ukraine-Russia peace negotiations in Istanbul, U.S. stock indexes were poised to open flat on Monday,
Tesla shares climbed after the firm said it will seek investor approval for a stock split.
The electric vehicle manufacturer soared 5.5 percent in premarket trade, boosting the S&P 500 and Nasdaq indexes once the market opened.
Apple Inc. dropped 1.6 percent following news that the company was intending to reduce iPhone and AirPod production as rising inflation begins to weigh on consumer electronics demand.
Financial shares gained on expectations that the Fed could push harder and faster to tame inflation running at four-decade highs again.
Bank of America, JPMorgan Chase and Wells Fargo rose between 0.2% and 0.6%, tracking the benchmark 10-year yield which climbed above 2.5%. One measure of the U.S. bond yield curve – the gap between five and 30-year Treasury yields
Inversions are considered a harbinger of eventual recession. But the signal right now is not clear.