Sun, 19 Sep 2021

U.S. stocks open lower following solid week

Xinhua
27 Jul 2021, 07:30 GMT+10

NEW YORK, July 26 (Xinhua) -- U.S. stocks traded on a downbeat note on Monday morning as investors are bracing for a busy week of earnings reports.

Shortly after the opening bell, the Dow Jones Industrial Average dipped 52.00 points, or 0.15 percent, to 35,009.55. The S&P 500 was down 1.41 points, or 0.03 percent, to 4,410.38. The Nasdaq Composite Index decreased 17.82 points, or 0.12 percent, to 14,819.17.

Seven of the 11 primary S&P 500 sectors declined in morning trading, with real estate down 0.55 percent, leading the laggards. Energy rose 1.6 percent, outpacing the rest.

The week features a batch of earnings reports from big tech names, including results from U.S. electric-vehicle maker Tesla after Monday's close, and reports from Apple, Alphabet and Microsoft on Tuesday. Facebook and Amazon will also report later in the week.

Nearly a quarter of the S&P 500 have reported by far. Of those companies, 88 percent have reported a positive earnings per share (EPS) surprise, according to CNBC, citing data from FactSet.

Wall Street will also look to the latest Federal Reserve interest-rate decision and the U.S. gross domestic product report for the second quarter slated later this week.

For the week ending July 23, the Dow rose 1.1 percent, the S&P 500 climbed 2 percent and the Nasdaq gained 2.8 percent.

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