US open: First full week of Q2 trading starts off on a mostly positive note

Wall Street trading got off to a mostly positive start on Monday as traders continued to mull over the fact that Treasury yields inverted late last week.

As of 1525 BST, the Dow Jones Industrial Average was down 0.04% at 34,804.89, while the S&P 500 was 0.32% stronger at 4,560.42 and the Nasdaq Composite came out the gate 1.0% firmer at 14,404.24.

The Dow opened 13.38 points lower on Monday, taking a bite out of gains recorded in the first session of Q2 as investors thumbed over March's all-important nonfarm payrolls report.

Bond yields were again in focus at the open after an often-cited recession indicator was triggered on Thursday when the two-year and 10-year Treasury yields inverted for the first time since 2019, while the five-year note yield also traded above its 30-year counterpart.

The latest developments in the Ukraine-Russia conflict were also drawing an amount of investor attention in early trade after German Chancellor Olaf Scholz said Western nations would impose additional sanctions on Moscow in a matter of days.

In the corporate space, Twitter shares surged 25% after news broke that Tesla CEO Elon Musk had taken a 9% stake in the social media giant, while Starbucks shares slipped after the coffee chain pulled its share repurchase programme.

On the macro front, factory orders declined 0.5% month-on-month to $542.0bn in February for the first decline since April 2021 as supply constraints and shortages of materials continued to weigh. Orders for durable goods went down 2.1%, principally due to transportation equipment, while other decreases were also seen in orders for machinery and computers and electronic products. Going the other way, orders for nondurable goods were up 1.2%.

Dow Jones - Risers

Salesforce.Com Inc. (CRM) $217.86 2.64%
Apple Inc. (AAPL) $177.73 1.96%
Microsoft Corp. (MSFT) $313.38 1.28%
Intel Corp. (INTC) $48.65 1.12%
Amgen Inc. (AMGN) $245.52 0.99%
Home Depot Inc. (HD) $303.63 0.57%
Nike Inc. (NKE) $134.20 0.51%
American Express Co. (AXP) $188.10 0.50%
Walt Disney Co. (DIS) $137.55 0.41%
JP Morgan Chase & Co. (JPM) $135.77 0.34%

Dow Jones - Fallers

McDonald's Corp. (MCD) $243.61 -2.26%
Procter & Gamble Co. (PG) $152.13 -1.91%
Boeing Co. (BA) $187.38 -1.77%
Coca-Cola Co. (KO) $62.13 -1.18%
Travelers Company Inc. (TRV) $183.12 -1.15%
Johnson & Johnson (JNJ) $176.23 -1.10%
Unitedhealth Group Inc. (UNH) $507.98 -0.90%
3M Co. (MMM) $148.43 -0.84%
Dow Chemical Co. (DOW) $63.77 -0.64%
International Business Machines Corporation (CDI) (IBM) $129.36 -0.61%

S&P 500 - Risers

Twitter Inc (TWTR) $47.11 19.84%
Gap Inc. (GPS) $14.01 3.62%
Nektar Therapeutics (NKTR) $5.78 3.40%
Nordstrom Inc. (JWN) $28.46 3.30%
Best Buy Co. Inc. (BBY) $93.34 3.28%
Apache Corp. (APA) $43.48 2.98%
Carmax Inc. (KMX) $101.27 2.82%
Salesforce.Com Inc. (CRM) $217.86 2.64%
Autodesk Inc. (ADSK) $218.49 2.56%
Qorvo, Inc. (QRVO) $124.59 2.53%

S&P 500 - Fallers

Starbucks Corp. (SBUX) $86.76 -5.17%
H&R Block Inc. (HRB) $25.44 -3.51%
Baxter International Inc. (BAX) $75.85 -3.47%
Abiomed Inc. (ABMD) $327.14 -3.40%
J. M. Smucker Co. (SJM) $133.32 -3.05%
Carnival Corp. (CCL) $19.45 -2.97%
PPL Corp. (PPL) $28.24 -2.71%
Vornado Realty Trust (VNO) $44.12 -2.65%
Brown Forman Corp. Class B (BF.B) $66.12 -2.55%
Edwards Lifesciences Corp. (EW) $120.04 -2.46%

Nasdaq 100 - Risers

JD.com, Inc. (JD) $62.69 6.09%
Baidu Inc. (BIDU) $148.86 5.60%
Qurate Retail Inc. (QRTEA) $5.11 4.40%
Workday, Inc. (WDAY) $245.05 2.99%
Autodesk Inc. (ADSK) $218.49 2.56%
QUALCOMM Inc. (QCOM) $150.62 2.47%
Meta Platforms Inc. (FB) $230.35 2.45%
Nvidia Corp. (NVDA) $273.62 2.43%
Intuit Inc. (INTU) $495.65 2.42%
Adobe Systems Inc. (ADBE) $468.77 2.31%

Nasdaq 100 - Fallers

Starbucks Corp. (SBUX) $86.76 -5.17%
Hologic Inc. (HOLX) $75.19 -2.26%
J.B. Hunt Transport Services Inc. (JBHT) $178.01 -1.93%
Henry Schein Inc. (HSIC) $87.89 -1.62%
American Airlines Group (AAL) $17.96 -1.54%
PACCAR Inc. (PCAR) $84.00 -1.43%
Dollar Tree Inc (DLTR) $157.26 -1.36%
Kraft Heinz Co. (KHC) $39.39 -1.35%
Align Technology Inc. (ALGN) $441.29 -1.15%
Booking Holdings Inc. (BKNG) $2,341.40 -1.12%