: U.S. stocks open mostly lower as Treasury yields jump after Washington averts government shutdown

U.S. stock indexes opened mostly lower to start the month as Treasury yields resumed their climbs after U.S. legislators were able to reach a temporary agreement that averted a government shutdown. The Dow Jones Industrial Average DJIA dropped 47 points, or 0.1%, to 33,463, while the S&P 500 SPX was off 0.1% and the Nasdaq Composite COMP was nearly flat. The U.S. Senate on Saturday night, with mere hours left before a midnight deadline for a federal government shutdown, voted to advance a short-term stopgap funding measure, which was then signed by President Joe Biden into law. The bill keeps the government open for 45 more days, an extended period that lawmakers can use to finalize funding legislation. The yield on the 2-year Treasury BX:TMUBMUSD02Y added 8 basis points to 5.113% on Monday morning, while the yield on the 10-year Treasury BX:TMUBMUSD10Y rose 7 basis points to 4.645%. Investors awaited a number of Fed speakers, with Fed Chair Jerome Powell and Philadelphia Fed President Patrick Harker expected to make comments at a community event in York, Pennsylvania, at 11 a.m.

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