U.S. stocks opened higher on Monday as gains in technology and industrial stocks led optimism about a strong earnings season. The Dow Jones Industrial Average lately rose 34.80 points, or 0.14%, to 24,497.74. The S&P 500 added 4.35 points, or 0.16%, to 2,674.49. The Nasdaq Composite gained 8.07 points, or 0.11%, to 7,154.20.
Oil prices fell on Monday, rattled by news of a higher U.S. rig count late last week and as the dollar climbed amid another move up for a key U.S. government bond yield. June WTI crude fell 46 cents, or 0.7%, to $67.95 a barrel. June Brent crude dropped 41 cents, or 0.6%, to $73.65 a barrel.
The yield on 10-year U.S. notes continued to rise on Monday, inching closer to the psychologically important 3% as strengthening inflation prospects added to expectations of a more hawkish approach from the Federal Reserve.
Netflix Inc. is selling $1.5 billion of senior bonds, according to a statement Monday. Netflix’s sale plan follows a quarter in which it added 7.41 million subscribers, its strongest start to a year since going public 16 years ago. Moody’s Investors Service upgraded the company earlier this month citing expectations that the growth will continue and eventually turn its cash flows positive.
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