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* Tesla rises after Canaccord Genuity upgrade
* Alibaba shrugs off $2.75 bln antitrust fine, shares rise
* Big bank earnings to kick off from Wednesday
* Futures down: Dow 0.13%, S&P 0.14%, Nasdaq 0.26% (Adds comment, details; updates prices)
April 12 (Reuters) – The S&P 500 and the Dow Jones indexes were set to open lower on Monday after closing at record levels in the previous session, as investors geared up for the start of the earnings season and a key inflation report this week.
A pullback in the benchmark 10-year bond yield from 14-month highs in April eased worries about higher borrowing costs, helping richly valued technology stocks gain ground and drive the S&P 500 and the Dow to record levels.
“Even with stocks at record highs, we expect further upside thanks to supportive fiscal and monetary policy, improving economic data and faster COVID-19 vaccination rates,” said Tom Mantione, managing director, UBS Private Wealth Management in Connecticut.
U.S. consumer price data for March and $271 billion of U.S. Treasury auction this week could end a recent lull in the bond market, reigniting a rise in yields that worried investors in the first quarter.
Federal Reserve Chair Jerome Powell on Sunday said the U.S. economy is at an “inflection point” with expectations that growth will pick up speed in the months ahead, but also risks if a hasty reopening leads to a…
