Wayfair Inc W shares are trading lower Monday alongside several other companies 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 2.857% 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.
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Wayfair is set to announce its first-quarter financial results before the market opens on May 5. The company engages in e-commerce in the U.S. and Europe and aims to be the go-to platform for "all things home."
W 52-Week Range: $100.57 - $339.55
According to data from Benzinga Pro, the stock was down 5.35% at $103.46 at press time.
Photo: keresi72 from Pixabay.
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