U.S. stocks open modestly lower as Treasury yields hit 14-year high, UK prime minister resigns

U.S. stocks opened marginally lower on Thursday as investors reacted to Treasury yields touching 14-year highs, along with Tesla Inc. TSLA, -3.54% earnings that fell short of expectations and the resignation of U.K. Prime Minister Liz Truss. The S&P 500 SPX, +0.76% fell 4.5 points, or 0.1%, to 3,690. The Nasdaq Composite COMP, +1.30% shed 23 points, or 0.2%, to 10,657. The Dow Jones Industrial Average DJIA, +0.98% rose 44 points, or 0.2%, to 30,468, bolstered by International Business Machines Corp. IBM, +4.26% after the company beat on earnings, sending its shares higher. The yield on the 10-year Treasury was up 5 basis points to 4.169 in recent trade after briefly topping 4.170%, its highest level since 2007.