"Stocks Slip as Treasury Yields Rise at Start of Q2"

Stocks were mostly lower on Monday, with tech and energy being the exceptions, as Treasury yields climbed following an inflation report. The S&P 500 closed at its 22nd record high of the year last Thursday, marking the best first quarter for equities since 2019. Gold prices surged to a record high late Sunday but retreated after U.S. manufacturing data raised doubts about a potential interest rate cut. General Electric will complete the spinoff of its energy-focused division, becoming GE Vernova, and its aerospace division, becoming GE Aerospace, before markets open Tuesday. AT&T slipped after a data breach affected millions of customers, while UPS replaced FedEx as the primary air cargo provider for the USPS.