Wall Street opens higher as Treasury yields retreat

Tuesday, 09. March 2021 15:31

Shares on Wall Street moved higher at the opening bell on Tuesday supported by stabilizing Treasury yields following the recent bond selloff that rattled financial markets along with fears of rising inflation. Tech shares also rebounded after posting sharp losses at the end of Monday's session.

Congress is expected to grant final approval to President Joe Biden's $1.9 trillion coronavirus relief package on Wednesday, when traders will be closely monitoring the consumer price index as well.

The Dow Jones was up 0.42% in the first minute of trading as Apple and Intel rose to the top of the chart. The S&P 500 opened 0.80% in the green with Tesla surging over 6%. The Nasdaq 100 jumped 2.74% at the open. Chinese internet companies Baidu and Pinduoduo led the gains on the Nasdaq.

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