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CNBC Daily Open: Fights in the House of Mouse

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

April kickoff
U.S. stocks got off to a tentative start for the second quarter as Treasury yields rose on Monday. Investors weighed Federal Reserve Chair Jerome Powell's Friday comments that there is no hurry to cut rates even though economic growth remains strong and inflation is still above target. The Dow Jones Industrial Average closed down 0.6% at 39,566.85, while The S&P 500 ended down 0.2% at 5,243.77. The tech-heavy Nasdaq Composite, on the other hand, finished up 0.11% at 16,396.83.

Decoupling
Microsoft's rivals won a reprieve on Monday, when the software giant said it would split up its Teams and Office bundles following scrutiny from European regulators. One of its rivals, Salesforce-owned Slack, had submitted an antitrust complaint to the European Commission in 2020 over what it viewed as illegal tying of Teams into Office.

Rumbling signs of life
The IPO market in the U.S. is showing signs of revival after more than two years. Rubrik, a 9-year-old data security software vendor, filed to go public on Monday, the latest venture-backed company to make moves toward the public market after an extended lull dating back to late 2021.

Spillover effect
Boeing's problems are starting to hurt its airline clients. United Airlines is asking pilots to take unpaid time off next month, citing late-arriving aircraft from Boeing, according to a note sent to pilots. CNBC previously reported that United would pause pilot hiring this spring for the same reason.

[PRO] Small caps
Market strategist Matt

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