Home / Market News / Dow jumps 600 points early Monday, puts stock-market index on track for best day in 3 months as Treasury’s yield surge cools

Dow jumps 600 points early Monday, puts stock-market index on track for best day in 3 months as Treasury’s yield surge cools

U.S. stock benchmarks on Monday kicked off trade in March sharply higher, with some strategists attributing the enthusiasm to a cool-down in the rapid rise in bond yields that had unsettled the bullish mood on Wall Street last week. The Dow Jones Industrial Average was up 610 points, or 2%, to trade at 31,555, on track for its best day since November, according to FactSet data. The S&P 500 index was climbing 1.8% to trade at 3,880, while the Nasdaq Composite Index was advancing 1.7% to 13,423. Rising bond yields have threatened to undo easy-money policies implemented by the Federal Reserve to stem the economic harm from public health protocols to mitigate the spread of COVID-19. However, yields were pulling back on Monday, with the 10-year Treasury note yielding 1.43% from hitting near 1.6% on Friday. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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