US stock market today: Dow Jones falls 152 pts; NASDAQ 100 and S&P 500 surge as treasury yields surge

The US stock markets opened on a mixed note on Monday, as surging bond yields raised fresh concerns. The previous week’s gains were largely driven by reduced bets on Federal Reserve’ rate hike amid softening labor market conditions. However, amid fresh surge in the US bond yields, has once again raised fresh concerns over economic stability in the US economy.

The Dow Jones opened flat-to-negative, down over 150 points, while the NASDAQ 100 and S&P 500 opened on a flat-to-positive note, surging as much as 0.2%. Meanwhile, investors will closely focus on ISM services activity report, followed by Federal Reserve’s September meeting on Wednesday.

At the stock specific level, Intel fell almost 2% on Monday after reports indicated Taiwan Semiconductor Co.may be discussion potential collaboration with Elon Musk’s Terafab. On the flipside, other megacap stocks surged as much as 2% on Monday, extending the previous week’s buoyancy.

Shares of Microsoft Corporation jumped over 2.6%, the most amongst the megacaps after the company said, it will not use prompts and responses data to train its foundational models and enterprise data wont feed copilot training data sets. Investors see this as a positive as AI companies face investor brunt amid AI-safety concerns.

Meanwhile the crude oil prices fell over 1.2%, alleviating some tensions of rising inflation. The Brent crude oil futures hovered near $101 per barrel on Monday, after the OPEC members decide to keep the output steady. Additionally, the resumption of flow in the east-west pipeline in the Saudi Arabia, eased supply disruption fears.

PTC Inc shares jump 34%

Shares of PTC Inc jumped over 34% in Monday’s opening session after France based Schneider Electric announced acquisition of PTC for around $22.6 billion. PTC provides software solutions for designing, manufacturing and servicing products across multiple sectors, which has also benefited from growing demand for its AI tools. However, Schneider Electric’s shares plunged over 10% in France after the deal was announced.