Stocks Pause at Records as Yields Stay Near 5.25 Percent

A quiet open after a record Friday

Wall Street was set for a subdued open Monday, Reuters reported, with Dow futures up 0.07 percent, S&P 500 futures up 0.02 percent and Nasdaq futures down 0.11 percent. Chip stocks eased after Friday's record, with Intel down 3.8 percent in premarket trade and Nvidia up 0.5 percent.

Friday's session had closed higher after a weaker jobs report. September payrolls rose by 29,000, below forecasts. The prior two months were revised down by a combined 60,000, and unemployment edged up to 4.2 percent.

Yields are the catch

Swap markets cut the implied chance of an October rate hike from 54 percent the prior week to about 21 percent. The 10-year Treasury yield was still around 5.25 percent.

That split is the story for founders and investors this week. Growth stocks can rally on softer Fed odds while the rate used to value them stays high. Constellation Brands, Levi Strauss, PepsiCo and Delta Air Lines report earnings in the days ahead.