Stocks Opened Higher, Treasury Yields spiked

U.S. stocks opened higher on Monday as the prospects of stronger economic growth grew with Donald Trump ‘s presidential election win. The Dow Jones Industrial Average lately climbed 61.36 points, or 0.33%, to 18,909.02. The S&P 500 added 3.63 points, or 0.17%, to 2,168.08. The Nasdaq Composite fell 2.05 points, or 0.04%, to 5,235.06.

Treasury prices tumbled for the fifth-straight session on Monday, driving longer-term yields to their highest since early 2016 and pushing the two-year yield above 1% for the first time in about a year. The yield on the benchmark 10-year note gained 1.4 basis points to 2.293%, its highest level since early January.

A key dollar gauge leapt to its highest in nearly a year Monday, as investors priced in policy shifts expected to be undertaken during Donald Trump’s presidency in the U.S. The U.S. Dollar Index （DXY）, which tracks the greenback’s performance against six other currencies, hit an intraday high of 100.51. That was its strongest level since late November 2015, FactSet data showed.

Samsung Electronics (SSNLF) on Monday announced it plans to acquire U.S. audio company Harman International Industries, Incorporated (HAR) in an all-cash deal worth $8 billion, marking Samsung’s largest ever acquisition. The deal, which values Harmon at $112.00 per share, gives Samsung access to the automotive industry which Harman supplies with infotainment technology.

German industrial giant Siemens AG Monday announced a multibillion-dollar deal to acquire Mentor Graphics Corp, in its latest move to beef up its software capabilities and widen its U.S. footprint. Siemens said it offered $37.25 a share in cash, equivalent to a 21% premium to Mentor’s closing price on Friday, giving the U.S. company an equity value of around $4 billion.