Stocks open mixed, bond yields highest since before pandemic

The Associated Press

Stocks are off to a muddled start on Wall Street as investors continue to struggle to predict how well the economy will weather the current bout of inflation as well as the Federal Reserve’s medicine for healing it, higher interest rates. The S&P 500 was bouncing between small gains and losses in the early going Tuesday. Peloton rose 9% after the exercise bike maker announced a corporate shake-up that included the resignation of its co-founder as CEO and big job cuts. Bond yields rose. The yield on the 10-year Treasury note rose to 1.96%, its highest level since before the pandemic began.