© Reuters.
Liz Moyer
Investing.com — US stocks were mixed, with US Treasury yields jumping on the prospect of higher long-term interest rates.
At 10:15 ET, rose 124 points or 0.4%, while fell 0.2% and fell 0.5%.
The Fed soared above 4% to a four-month high as investors bet that the Fed will continue to restrict policy. It hit a 15-year high of 4.94%, according to Reuters.
The latest data on the labor market are fueling the flames. It fell again last week as the labor market continues to show surprising strength.
The Federal Reserve sees a tight labor market as one of the factors it uses to make policy decisions. Most people expect at least two more rate hikes, by a quarter percentage point each in March and May. Some futures traders started betting on a half-point rate hike.
Fed officials in recent days have stressed the need to cool off with continued rate hikes. Another key data point comes out next week when the government releases his February data.
Tesla (NASDAQ:) shares fell 6% after Investor Day shed light on details about a potential new low-cost car, but CEO Elon Musk said the company is planning to build a new factory in Mexico. Confirmed.
Shares of Salesforce, Inc. (NYSE:) soared more than 12% after the business software maker predicted optimistic first-quarter earnings and pushed its share buybacks to $20 billion.
Silvergate Capital Corporation (NYSE:) has fallen more than 40% after delaying its annual report as it said it was analyzing its ability to operate as a going concern.
Crude oil was rising. Crude rose 0.7% to $78.22 a barrel, while crude rose 0.5% to $84.72 a barrel. $1,843, down 0.1%.