Investing.com - Wall Street started mixed on Tuesday, as enthusiasm for technology stocks weighed against concerns over rising Treasury yields.
The S&P 500 fell 3 points or 0.11% to 2,881.24 as of 9:39 AM ET (13:39 GMT), while the Dow decreased 74 points, or 0.28%, to 26,412.50 and the tech-heavy Nasdaq Composite was up 26 points, or 0.34%, to 7,762.51.
Treasury yields started to climb last week as upbeat economic data increased expectations the Federal Reserve will raise rates in December and beyond. The yield on the benchmark United States 10-year note reached a fresh seven-year high of 3.261% before paring back gains, while the United States 30-year Treasury bond climbed to a four-year peak of 3.44%.
Tesla (NASDAQ:TSLA) was among the top gainers after the morning bell, rising 2.08%, while Facebook (NASDAQ:FB) gained 1.02% and Intel (NASDAQ:INTC) gained 1.21%. Tilray (NASDAQ:TLRY) increased 0.54% after the company completed its acquisition of import and distribution partner Alef Biotechnology.
Elsewhere, Google (NASDAQ:GOOGL) dipped 0.14% after the company said it was not competing for the Pentagon’s $10 billion cloud computing contract, saying it would conflict with its corporate values. Bank of America (NYSE:BAC) was down 0.74%, while JPMorgan (NYSE:JPM) dipped 0.93%.
In Europe stocks were mixed. Germany’s DAX slumped 29 points, or 0.25%, while in France the CAC 40 decreased 7 points, or 0.14%, and in London the FTSE 100 was down 24 points, or 0.33%. Meanwhile the pan-European Euro Stoxx 50 gained 1 point, or 0.03%, while Spain’s IBEX 35 rose 31 points, or 0.35%.
In commodities, gold futures inched up 0.08% to $1,189.50 a troy ounce, while crude oil futures rose 0.51% to $74.67 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, rallied 0.28% to 95.71.