Chewy Inc CHWY shares are trading lower Monday alongside several other stocks in the broader consumer discretionary sector amid overall market weakness as a rise in bond yields weighs on stocks.
The U.S. 10-Year Treasury note reached new three-year highs last week before pulling back. It's moving higher again Monday, hovering around 2.86% at time of publication. The strength comes as investors continue to assess inflationary pressures.
Investors are also preparing to assess the financial impact stemming from the Russia-Ukraine conflict as a large number of companies are set to report earnings this week.
Chewy is the largest e-commerce pet care retailer in the U.S.
See Also: What's Going On With Etsy Shares?
CHWY 52-Week Range: $35.59 - $97.74
According to data from Benzinga Pro, the stock was down 0.8% at $39.61 at time of publication.
Photo: rzierik from Pixabay.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
