U.S. stocks traded mostly in the red early Monday as investors braced for a wave of quarterly results from corporations over the coming days. More than 480 companies are slated to report updates, including a number of prominent technology-related firms.
The Dow Jones Industrial Average fell 107 points, or 0.4%, to 26,565. The S&P 500 was down 6 points, or 0.2%, to 3,219. The Nasdaq Composite gained 16 points, or 0.2%, to 10,519.
Earnings from corporations including Microsoft, Tesla and Intel, are among a parade of entities could offer greater insight about the economic outlook as American corporations contend with the worst pandemic in more than 100 years.
Chevron (CVX) said Monday it reached an agreement to buy Noble Energy (NBL) for $5 billion in stock in what marks the biggest oil-patch tie-up since the coronavirus pandemic began four months ago.
The yield on the benchmark 10-year Treasury note fell less than 2 basis points to 0.606% and the yield on the 30-year Treasury bond edged down to 1.302%. Yields move inversely to prices.