Stocks fell flat on Monday as U.S. Treasury yields climbed higher and investors anxiously awaited quarterly earnings reports from major retailers later this week to gauge holiday season forecasts. The 10-year yield rose over 1.6% and the 30-year climbed above 2%.
Investors are focused on upcoming earnings reports from several major retailers, including Dow components Walmart
Here's how the market settled to start the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Snapchat enters new licensing deal with Sony Music:
Snap
Under the partnership, the media sharing app will feature Sound Lenses with a pre-selected song embedded into the Lens, a Lens that transforms pictures of anyone to appear as if they are singing a song, and Cameo Sound Lenses that apply visual effects.
Burger King parent buys Firehouse Subs for $1 billion:
Burger King parent Restaurant Brands International
"We see tremendous potential to accelerate U.S. and international growth at Firehouse Subs with RBI's development expertise, global franchise network and digital capabilities," Restaurant Brands CEO Jose Cil said in a statement.
Firehouse Subs was founded in 1994 by brothers and former firefighters Chris and Robin Sorensen. The chain has roughly 1,200 locations across the United States and expects $1.1 billion in sales this year.
WeWork shares fall after Q3 earnings loss:
WeWork
Total revenue for the quarter was $661 million, up 11% from the previous quarter, according to the report. The company saw a loss of $4.54 per share, which was an improvement from the loss of $5.51 per share last year.
WeWork went public though a reverse merger with a special purpose acquisition company back in October, nearly two years after its failed initial public offering.
Here's how market benchmarks started trading soon after opening bell:
S&P 500 Index: +0.20% or +9.59 points to 4,692.44
Dow Jones Industrial Average: +0.08% or +28.52 points to 36,128.83
Nasdaq Composite Index: +0.20% or +32.35 points to 15,891.14