US stocks initially fell as bond yields rose

The decline prevailed in US stock indices at the beginning of the first sessions of the week, with bond yields rising, amidst the reception of the Federal Reserve Chairman’s statements last week, during which he tried to dampen expectations of lowering interest rates.

At the beginning of the session, the Dow Jones Index fell by 0.3%, or 106 points, to 36,138 points.

While the S&P 500 index fell by 0.65%, or 30 points, at 4,563 points, and the Nasdaq index fell by approximately 1%, or the equivalent of about 148 points, at 14,156 points. EyePoint Pharmaceutics shares jumped 208.6% to $20.4, after the drug maker (Nasdaq: EYPT) announced positive results from a phase 2 trial of its treatment for wet age-related macular degeneration, known as AMD.

The series of index gains extended for the fifth week in a row, after the Dow Jones ended last week’s trading at its highest level since January 2022, achieving the longest series of its kind since 2021, while the S&P 500 index ended the session at its highest level since March. 2022.

This comes after US stock indices ended a three-month losing streak in November, with the S&P 500 and Nasdaq indices achieving their best monthly performance since July 2022.