Stocks closed mostly lower on Monday despite oil prices soaring as Treasury yields spiked ahead of a key Federal Reserve meeting. The Dow Jones industrial average gained about 40 points, closing at a new record high, with Johnson & Johnson contributing the most gains. The S&P 500 fell 0.1 percent, after briefly hitting an all-time high, with a 0.9 percent decline
in financials offsetting gains in telecommunications. The Nasdaq composite underperformed, falling 0.6 percent. The benchmark 10-year note yield rose to 2.477 percent, after hitting its highest level since 2014. The two-year note yield, meanwhile, advanced to 1.145 percent. The Fed’s policymaking committee is set to begin a two-day meeting on Tuesday, where the U.S. central bank is largely expected to raise interest rates by 25 basis points. READ MORE
