US stocks end mixed, Treasury yields fall, data on data

SYDNEY, April 24 (Reuters) – Wall Street turned in for a mixed finish on Monday, with interest rate-sensitive stocks weighing on the Nasdaq and U.S. Treasuries as investors closely watched a week of quarterly earnings and the economy. information.

The benchmark S&P 500 and Dow ended the session modestly higher, while Microsoft Corp ( MSFT.O ), Tesla Inc ( TSLA.O ) and other megacaps dragged the Nasdaq into the red.

“People don’t know what’s in store this week, especially when it comes to earnings,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. “There’s a lot to be cautious about, and today reflects that. Not much happened.”

This week’s earnings included tech and tech giants Alphabet Inc ( GOOGL.O ), Microsoft, Meta Platforms Inc ( META.O ) and Amazon.com Inc ( AMZN.O ) among market movers.

High-profile industrials General Motors Co ( GM.N ), Boeing Co ( BA.N ), Northrop Grumman ( NOC.N ) and Caterpillar Inc ( CAT.N ) are also on deck.

On the economy, housing data, industrial output and the trade sector’s first stab at first-quarter GDP will be closely watched on Friday and will be capped by the broader Personal Consumption Expenditures (PCE) report, which tracks income, spending. and inflation.

“Everyone is looking forward to Friday’s PCE, which is the Fed’s preferred inflation gauge,” said Tim Krisky, senior portfolio strategist at Ingalls & Snyder in New York.

The Dow Jones Industrial Average (.DJI) rose 66.44 points, or 0.2%, to 33,875.4, the S&P 500 (.SPX) added 3.52 points, or 0.09%, to 4,137.04, while the Nasdaq Composite fell 5. 0.29%, 12,037.20.

European shares closed essentially unchanged ahead of market-moving earnings reports that included a stream of European banks excluding US megacaps.

The pan-European STOXX 600 index (.STOXX) lost 0.01% and MSCI’s broadest measure of stocks around the world (.MIWD00000PUS) added 0.11%.

Emerging market stocks lost 0.35%. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.35%, while Japan’s Nikkei (.N225) rose 0.10%.

U.S. Treasury yields fell as market participants grew increasingly nervous about the approaching debt ceiling deadline.

Benchmark 10-year notes were last traded up 18/32 to yield 3.5034%, up from 3.572% late on Friday.

The 30-year note was last traded up 34/32 to yield 3.718%, up from 3.778% late on Friday.

The greenback and yen weakened ahead of the US and Japan’s respective central bank policy meetings. Financial markets are pricing in a 91.4% probability that next week’s Federal Reserve meeting will end in another 25 basis point interest rate hike.

The dollar index fell 0.45%, while the euro rose 0.51% to $1.1043.

The Japanese yen weakened 0.08% against the greenback at 134.28 per dollar, while sterling last traded at $1.2483, up 0.43% on the day.

Crude prices were buoyed by hopes of strengthening demand from China, but rose later in the session.

U.S. crude rose 1.14% to $78.76 a barrel, while Brent rose 1.31% to $82.73.

Gold rose ahead of key economic data that could influence the Federal Reserve’s decision-making at next month’s monetary policy meeting.

Spot gold rose 0.3% to $1,989.14 an ounce.

Reporting by Wayne Cole; Editing by Christopher Cushing

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