Futures Pressured by Uptick in Yields; Tesla up on Record DeliveriesEpoch Times, United States politics | The Epoch Times

U.S. stock indexes were set to open lower on Monday as most big technology stocks were pressured by an uptick in Treasury yields, while Tesla shares rose after reporting a record number of electric vehicle deliveries. U.S. Treasury yields have been supported by recent data showing increased consumer spending, accelerated factory activity, and elevated inflation growth, fuelling bets that the Federal Reserve could start tightening its accommodative monetary policy sooner than expected. High-flying growth companies including Apple Inc., Facebook Inc., Microsoft Corp., Alphabet Inc., and Amazon.com Inc. fell between 0.2 percent and 0.9 percent in premarket trading. “In the rising rate environment, historically you’ve been rewarded being in the economically sensitive value and cyclical stocks, relative to tech. That’s not to say tech will collapse, it’s just to say that the cyclicals should do better in coming months,” said Thomas Hayes, managing member at Great Hill Capital LLC in New …Read More

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