- US stocks rose at the open after Biden signed the $1.9 trillion
stimulus bill into law on Friday. - Bitcoin pared back gains after touching a record high above $61,000 over the weekend.
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US stocks gained at the open with the
Many Americans saw $1,400 stimulus checks land in their bank accounts over the weekend, while more direct deposits are expected in the coming weeks.
US bond yields drifted at a 13-month peak of 1.6% on Monday ahead of the FOMC announcing its latest monetary policy decision on Wednesday. As
"Investor concerns now center on the speed with which the 10-year yield rises and whether the Fed will be forced to raise short-term rates sooner than expected," said Sam Stovall, CFRA chief investment strategist. "We think they won't."
Here's where US indexes stood after the 9:30 a.m. ET open on Monday:
- S&P 500: 3,946.58, up 0.08%
- Dow Jones industrial average: 32,906.56 up 0.39% (127.92 points)
- Nasdaq composite: 13,317.03, down 0.2%
Tencent shares tumbled 3.5% in Hong Kong on Monday, meaning the company's value has fallen more than $65 billion in two days due to concerns that the Chinese authorities will ramp up scrutiny of the tech giant. Chinese regulators fined the do-it-all tech company $77,000 on Friday for not seeking approvals for deals.
Bitcoin pulled back to around $56,289 on Monday after it rose above $61,000 over the weekend. A report said India could fine anyone in the country for even holding such digital assets.
Gold jumped 0.5%, to $1,728.90 per ounce.