U.S. stocks have opened slightly higher on Monday, following their best week in about a year. This surge in optimism is due to the belief that the Federal Reserve may no longer raise interest rates. The latest data from FactSet reveals that the Dow Jones Industrial Average (DJIA) is up by 0.3% soon after the opening bell. Similarly, the S&P 500 (SPX) has gained 0.3%, and the Nasdaq Composite (COMP) has edged up 0.3%.
Impressively, last week saw the Dow achieve its largest weekly percentage gain since October 2022, while both the S&P 500 and Nasdaq recorded their most substantial weekly jump since November 2022.
Economic Calendar Highlights
Today's economic calendar shows several significant events. At 11:00 a.m. Eastern Time, Fed Governor Lisa Cook is expected to make remarks. Additionally, at 2 p.m., the Fed's senior loan survey will be released.
Impact on Treasury Notes
While the stock market experiences a positive trend, the yield on the 10-year Treasury note has risen approximately nine basis points on Monday, currently sitting at around 4.61%. This comes after a decline last week, as per the latest data from FactSet.