Stocks Mixed at Open on Concerns over Higher Bond Yields

U.S. stocks opened slightly lower on Tuesday as the yield on the benchmark Treasury note marched forward to hit a fresh multi-year high. The Dow Jones Industrial Average lately fell 125.83 points, or 0.48%, to 26,360.95. The S&P 500 was down 5.82 points, or 0.20%, to 2,878.61. The Nasdaq Composite gained 6.63 points, or 0.09%, to 7,742.58.

Oil futures rose Tuesday, taking back some of the ground lost the previous session and finding support on signs that Iran crude exports are falling ahead of reimposed sanctions. West Texas Intermediate crude for November delivery rose 56 cents, or 0.8%, to $74.85 a barrel. Brent crude for December delivery gained 81 cents, or 1%, to $84.72 a barrel.

Microsoft Corp (MSFT) said on Tuesday its expanded Azure cloud service to help government clients save data on their own servers would be available by the end of the first quarter of 2019, as it battles with Amazon.com for a $10 billion Pentagon contract.

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