Stocks Closed Lower; Bond Selloff

U.S. stocks closed lower on Monday, as investors eyed gains in bond yields and awaited the week’s data releases. The Dow Jones Industrial Average shed 85.94 points, or 0.5%, to 18,105.17. The S&P 500 fell 10.77 points, or 0.5%, to 2,105.33. The Nasdaq Composite was off 9.98 points, or 0.2% at 4,993.57.

The U.S. 10-year Treasury yield (U.S.:US10Y) gained to 2.27 percent. The 30-year bond yield topped 3.03 percent. The German 10 -year bund yield rose to 0.62 percent.

Royal Dutch Shell Plc won U.S. approval to resume oil exploration off Alaska’s Arctic coast after regulators imposed safety conditions meant to avoid the mishaps that plagued the company three years ago. Environmental groups decried the decision.

Comcast has picked its new CFO: a former JPMorgan Chase executive who was once considered a possible CEO candidate at the New York bank.