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Prices delayed by at least 15 minutes
(Sharecast News) - Major indices were in the red early on Monday as oil prices and Treasury yields moved higher amid continued tensions in the Middle East.
As of 1500 BST, the Dow Jones Industrial Average was down 0.46% at 51,588.27, while the S&P 500 shed 0.48% to 7,706.22 and the Nasdaq Composite came out of the gate 0.64% softer at 26,894.81.
The Dow opened 240.35 points lower on Monday, taking a bite out of gains recorded in the previous session as oil prices fell amid growing optimism that the Strait of Hormuz could be reopened, while bond yields eased from a 19-year high.
Oil prices were in focus again early on Monday, with international benchmark Brent crude up 1.80% at $106.20 a barrel and West Texas Intermediate 2.03% higher at $94.29 a barrel after Donald Trump rejected conditions for a ceasefire from Iran aimed at ending their conflict.
Treasury yields also extended last week's sharp gains at the open, with the benchmark 10year note up more than six basis points at 5.227% and the 30year climbing just over four basis points to 5.538%, leaving both trading around multiyear highs.
On the macro front, the Dallas Federal Reserve's September manufacturing business index will be published at 1530 BST.
No major corporate earnings were slated for release on Monday.
Reporting by Iain Gilbert at Sharecast.com
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