© Reuters.
By Oliver Gray
Investing.com – moved slightly higher in overnight trading on Monday, following declines among major benchmark averages during regular trade as U.S. Treasury yields surged ahead of fresh inflation data set to be released on Tuesday.
At 6:30pm E.T (10:30pm GMT), , and were each trading 0.1% higher.
The overnight moves come as investors await the release of March’s highly anticipated on Tuesday with market analysts expecting the highest annual increase in prices since December 1981 amid rising food costs, rents and energy prices.
Investors are also looking ahead to the start of earnings season on Wednesday with JPMorgan Chase & Co (NYSE:) and Delta Air Lines Inc (NYSE:) set to report earnings results, followed by several big banks on Thursday.
During regular trading on Monday, the fell 413.04 points or 1.19% to 34,308.09, the fell 75.73 points or 1.69% to 4,412.53 and the retreated 299.04 points or 2.18% to 13,411.96.
Technology companies suffered as market participants rotated into safer assets amid surging bond yields. Amazon.com Inc (NASDAQ:) lost 2.2%, Microsoft Corporation (NASDAQ:) fell 3.9%, Apple Inc (NASDAQ:) dipped 2.6%, Alphabet Inc (NASDAQ:) lost 2.4% and NVIDIA Corporation (NASDAQ:) shed 5.2%.
Energy companies also retreated amid easing prices as lockdowns in China threaten to curb demand. Occidental Petroleum Corporation (NYSE:) fell 6.3%, Diamondback Energy Inc (NASDAQ:) lost 4.9%, Exxon Mobil Corp (NYSE:) shed 3.4%, Chevron Corp (NYSE:) dipped 2.6% and ConocoPhillips (NYSE:) declined 4.9%.
Meantime, U.S. bond yields continued to rise as investors digested the Fed’s plans to tighten monetary policy settings. The yield was near its highest levels since January 2019 at 2.774%.
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