U.S. stocks switched between small gains and losses on Monday, as rising bond yields weighed on Wall Street sentiment.

The closely watched yield on the 10-year Treasury note climbed, approaching a psychologically important 3% level.

Investors grappled with a mixed bag of earnings reports on the day, including weaker-than-expected results from Halliburton Co. and Hasbro Inc.

What are the main benchmarks doing?

The Dow Jones Industrial Average most recently traded off 3 points, or less than 0.1%, at 24,459.

The S&P 500 was up less than a point at 2,670, with seven of its 11 main sectors trading lower. Consumer-staples and technology stocks led the declines.

The Nasdaq Composite Index shed 9 points, or 0.1%, to 7,138.

What’s driving markets?

The advance in U.S. interest rates has come as traders increasingly start to price in four interest-rate hikes in 2018 from the Federal Reserve, rather than the three signaled by policy makers. On Friday, traders on the fed-fund futures market saw a 38% chance of four hikes this year, compared with 24.5% on April. 11.

What are strategists saying?

“The fact that we backed off the 3% level on the 10-year has probably giving stocks a slight reprieve, but we are watching these levels closely,” said Mark Kepner, managing director of sales and trading at Themis Trading.

While strong earnings results should keep stocks underpinned in the short term, investors should not “drop their guard” given the charge higher for U.S. bond yields, said Konstantinos Anthis, head of research at ADS Securities.

“Even a small deterioration in sentiment could trigger a selloff for global equities as yields threaten the upside potential,” he said in a note to clients.

What stocks are in focus?

Hasbro Inc. shares recovered from an earlier drop to trade 3% higher even after the toymaker’s adjusted profit and sales missed expectations. Halliburton Co. shares fell 0.9% even after swinging to a profit in the first quarter.

Kimberly Clark Corp. shares fell 1% after the company’s earnings beat expectations, even as it plans restructuring.

Shares of Alcoa Corp slumped 12% as the Treasury Department said it’s extended its wind-down period for dealing with Rusal, the aluminum giant controlled by Oleg Deripaska.

Google-parent Alphabet Inc. TD Ameritrade Holding Corp. and Whirlpool Corp. are all expected to report after the close.

Alphabet earnings: Google will offer a gander at its Uber investment

Shares of Henry Schein Inc. jumped 6% after the company said it plans to spin off its animal health business for an expected $1 billion to $1.25 billion in tax-free cash.

What are the economic data?

Preliminary readings of the manufacturing and services purchasing managers’ indexes for April showed that IHS markit flash manufacturing PMI rises to 56.5 in April from 55.6, while the flash reading for services showed a climb to 54.4 in April from 54.0.

Meanwhile, existing-home sales increased 1.1% in March from the previous month to a seasonally annual rate of 5.60 million, the National Association of Realtors said Monday. Economists surveyed by The Wall Street Journal had expected a sales rate of 5.55 million last month.

Check out: MarketWatch’s Economic Calendar.

What are other markets doing?

Gold futures settled 1.1% lower at $1,324 an ounce, while the ICE U.S. Dollar Index jumped to a three-month high of 90.846 as bond yields climbed.

Crude-oil prices turned slightly higher, above $68.