NEW YORK — Stocks are off to a wobbly start on Wall Street and as some concerns dissipate over the protests in China against that country’s severe COVID restrictions.
The S&P 500 was bobbing between small gains and losses in the early going today, as was the Dow Jones Industrial Average. Small-company stocks were mostly higher.
Energy stocks rose as crude oil prices climbed about 2%.
Hong Kong’s benchmark index jumped more than 5% overnight and other Asian markets also rose.
U.S. Treasury yields were higher. The yield on the 10-year Treasury note, which helps set mortgage rates, rose to 3.75%.
China’s economy has been stifled by a “zero-COVID” policy which includes lockdowns that have intermittently threatened the global supply chain.
Chinese shares rebounded after they were hit by sharp losses on Monday following protests over the weekend in various Chinese cities. However, a crackdown on the protests or further expansion of pandemic lockdowns could slow the Chinese economy further, hurting the global economy.