U.S. stocks opened lower Monday morning after the release of a stronger-than-expected jobs report on Friday, as investors weighed the potential implications of the data on monetary policy. The Dow Jones Industrial Average fell 0.1%, or 35 points, the Nasdaq was down 1%, and the S&P 500 fell 0.62%. The 10-year U.S. Treasury yield rose 10 basis points to 3.64%.
PayPal Holdings (PYPL) dropped more than -3% after Raymond James downgraded the stock to market perform from outperform, and lowered its price target to 133 from 136. Following the announcement that Newmont (NEM) would be making an all-stock purchase of Newcrest Mining (NCMGY), the former's stock value dropped by 4.8 Prior to the start of market trading, Tyson Foods (TSN) experienced a drop of over 5%, due to their Q1 sales of $13.26 billion being lower than the consensus of $13.52 billion.
Catalent (CTLT) surged more than +24% after a Bloomberg report said that Danaher is said to be interested in acquiring the company.
Today, investors will be seeking further indications of the trajectory of U.S. interest rates, with Federal Reserve Chair Jerome Powell to address the Economic Club of Washington at 12:40 p.m.  On the earnings front, notable companies reporting this week include Disney (DIS), BP (BP), PepsiCo (PEP), Uber (UBER), Chipotle Mexican Grill (CMG), AbbVie (ABBV), and Dell Technologies (DELL).
Overall, investors remain wary of potential rate hikes by the Federal Reserve in the coming months, as the strong jobs report added to the uncertainty. The December import and export numbers were released, causing the trade balance to increase. The international trade in goods and services came in at -$67.40B, which was worse than the expected -$68.8B and worse than the –
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