US STOCKS SNAPSHOT-S&P 500 opens flat as bond yields hit new highs

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FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. REUTERS/Carlo Allegri/File Photo

(Reuters) – The benchmark S&P 500 index opened flat on Tuesday as U.S. bond yields hit new highs on expectations of aggressive interest rate hikes, while investors awaited more earnings reports to assess the impact of inflation and the Ukraine war on companies.

The Dow Jones Industrial Average fell 17.07 points, or 0.05%, at the open to 34,394.62. The S&P 500 opened lower by 1.06 points, or 0.02%, at 4,390.63, while the Nasdaq Composite dropped 19.92 points, or 0.15%, to 13,312.44 at the opening bell.

Reporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur