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Bond beat down; Dish & T-Mobile merger talks; Taco Bell's boozy menu

Stocks (^GSPC) lower in the early going as falling global bond prices and rising yields are causing investors to scramble to reposition their portfolios.

Yahoo Finance Senior Columnist Michael Santoli says the suddenness of these changes is what's spooking the markets.

"It's really the trajectory and speed of the move in bond yields, most specifically the German 10 year (^BUNT)," he explains.  "The velocity of these large asset market moves has the rest of the investors in the world a little bit on edge."

Also for Wall Street to ponder today-- weekly jobless claims ahead of tomorrow's big May employment report. The Labor Department saying initial claims fell 8,000 last week to 276,000.

"It's a little bit of a relief that we didn't see a continued upward trend in this number which has had a couple of upside surprises recently," Santoli points out.

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Dish/T-Mobile US in talks?

Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.

T-Mobile US (TMUS) shares are surging in early trading  The wireless carrier is reportedly in merger talks with Dish Network (DISH). The Wall Street Journal is reporting that the talks are in a formative stage and that a deal might not ultimately happen. Shares of Dish are also soaring on the news.

FireEye (FEYE) shares are higher this morning. The security firm is teaming up with Visa (V) to develop products and services that will help retailers and card issuers quickly detect and respond to cyberattacks. This follows a series of data breaches over the past couple of years at some big name retailers, including Target (TGT) and Home Depot (HD).

Five Below (FIVE) shares are getting a nice markup in early trading. The discount retailer raised its outlook for the year and the current quarter after reporting earnings and revenue that topped analysts' estimates in the first quarter. Sales jumped 22% from a year earlier. The company said strong performance at new stores helped boost sales and earnings.  

Michaels (MIK) shares are lower this morning. The arts and crafts retailer reporting first quarter profit that missed analysts' forecasts, while revenue was right in-line with estimates. Like so many other companies, Michaels is pointing to the bad winter weather and strong dollar for causing what it calls headwinds to its results. Still, shares of The Michaels Companies are worth about two-thirds more than when they began trading publicly last June.

Investor wants changes at Twitter

Early Twitter (TWTR) investor Chris Sacca is pushing for major changes at the social networking site. Sacca is urging Twitter to take more risks and improve its services to lure more users. He also suggested Twitter would be a good purchase for Google (GOOGL).

Yum! Brands' (YUM) Taco Bell is experimenting with adding booze to its menu. The fast food chain will serve beer, wine and mixed alcohol freezes at a location in Chicago. This will be the first time Taco Bell serves alcohol in the U.S.