Geoffrey Smith 

Investing.com — U.S. stock market opened mixed Monday with the news that Tesla has split its stock (NASDAQ:). This support a market otherwise plagued by increasing bond yields, signs of inflation-driven slowdown in consumer expenditure and rising bond yields. 

At 34,705 point, the index was 0.5% lower at 9:45 ET (1340 GM). However, the wider sank by less than 0.1% while the was higher 0.7%. 

Tesla stock was the most notable early move. It gained 6.0% following Tesla’s announcement that it would split its stock. This move typically makes Tesla more appealing to smaller investors. It’s not clear if this is still true in an era where fractional stock brokerages offer them.  This was compensated by the fact Tesla’s Shanghai factory is scheduled to be closed due to the rolling lockdowns that were imposed on the entire city of 25,000,000 people. The factory produces less than 10,000 vehicles per week.