US open: Stocks mixed following September consumer confidence reading

Wall Street stocks were mostly lower early on Tuesday following fresh consumer confidence data but the Dow Jones still looked set to build upon its record close.

As of 1545 BST, the Dow Jones Industrial Average was up 0.08% at 42,157.30, while the S&P 500 lost 0.26% to 5,703.66 and the Nasdaq Composite came out the gate 0.53% weaker at 17,879.45.

The Dow opened 32.65 points higher on Tuesday, extending gains recorded in the previous session.

In focus early on Tuesday, China's central bank unveiled a raft of cuts to reserve requirements and lending rates, including for existing home loans, as it tried to stimulate the country's stagnant economy. The People's Bank of China said it would cut the amount of cash that banks must hold as reserves – known as reserve requirement ratios (RRR) – by 50 basis points and also cut a key policy rate by 0.2 percentage points to 1.5%, while interest rates on existing mortgages will also be reduced by 0.5 percentage points on average.

On the US macro front, year-on-year house price growth slowed to 4.5% in July, according to the Federal Housing Finance Agency, down from 5.3% in June. On a monthly basis, house prices were up just 0.1% amid improving supply and an easing in mortgage rates.

Elsewhere, the University of Michigan's consumer confidence index increased for a second straight month in September, up from 67.9 in August to 69, the highest reading since May and ahead of estimates for a print of 68.

Finally, the Richmond Fed's manufacturing index edged down to -21 in September, down from -19 in August and falling short of expectations for an increase to -17 to mark the steepest decline in factory activity since May 2020.

In the corporate space, Boeing has made its "best and final" offer to striking Boeing workers, which proposed a 30% pay rise over a four-year period, also included the reinstatement of performance bonuses and improved retirement benefits.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Caterpillar Inc. (CAT) $384.11 3.49%
Dow Chemical Co. (DOW) $53.54 2.89%
Nike Inc. (NKE) $88.00 2.07%
Home Depot Inc. (HD) $398.27 1.61%
3M Co. (MMM) $137.33 1.25%
Walgreens Boots Alliance, Inc. (WBA) $8.65 1.11%
Salesforce.Com Inc. (CRM) $266.85 1.00%
Unitedhealth Group Inc. (UNH) $576.19 0.48%
Verizon Communications Inc. (VZ) $44.47 0.47%
JP Morgan Chase & Co. (JPM) $212.35 0.43%

Dow Jones - Fallers

Visa Inc. (V) $277.43 -3.88%
Microsoft Corp. (MSFT) $427.51 -1.39%
Boeing Co. (BA) $154.57 -1.10%
Coca-Cola Co. (KO) $71.25 -0.66%
American Express Co. (AXP) $265.78 -0.57%
Intel Corp. (INTC) $22.46 -0.44%
Walt Disney Co. (DIS) $92.62 -0.43%
Amgen Inc. (AMGN) $334.33 -0.38%
Travelers Company Inc. (TRV) $238.61 -0.38%
International Business Machines Corporation (CDI) (IBM) $219.38 -0.37%

S&P 500 - Risers

Freeport-McMoRan Inc (FCX) $47.92 6.15%
Estee Lauder Co. Inc. (EL) $91.20 5.19%
Kohls Corp. (KSS) $19.91 5.12%
Flowserve Corp. (FLS) $50.83 4.59%
Wynn Resorts Ltd. (WYNN) $83.33 3.90%
Celanese Corp. (CE) $132.28 3.56%
Albemarle Corp. (ALB) $91.82 3.51%
Caterpillar Inc. (CAT) $384.11 3.49%
Leggett & Platt Inc. (LEG) $13.43 3.31%
Nucor Corp. (NUE) $151.68 3.18%

S&P 500 - Fallers

Bread Financial Holdings, Inc. (BFH) $48.15 -5.28%
Regeneron Pharmaceuticals Inc. (REGN) $1,044.98 -4.30%
Visa Inc. (V) $277.43 -3.88%
McKesson Corp. (MCK) $486.13 -3.74%
Charter Communications Inc. (CHTR) $322.32 -2.81%
Nektar Therapeutics (NKTR) $1.17 -2.50%
Carnival Corp. (CCL) $18.50 -2.48%
Equity Residential (EQR) $75.95 -1.92%
Western Digital Corp. (WDC) $65.03 -1.90%
Discover Financial Services (DFS) $137.55 -1.89%

Nasdaq 100 - Risers

JD.com, Inc. (JD) $32.14 8.00%
Trip.com Group Limited (TCOM) $51.76 5.44%
NetEase Inc. Ads (NTES) $84.68 5.21%
Baidu Inc. (BIDU) $91.97 4.18%
Wynn Resorts Ltd. (WYNN) $83.33 3.90%
eBay Inc. (EBAY) $64.66 1.91%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $403.00 1.88%
Qurate Retail Inc. (QRTEA) $0.57 1.80%
J.B. Hunt Transport Services Inc. (JBHT) $172.65 1.45%
Texas Instruments Inc (TXN) $206.50 1.30%

Nasdaq 100 - Fallers

Sirius XM Holdings Inc (SIRI) $24.42 -4.61%
Regeneron Pharmaceuticals Inc. (REGN) $1,044.98 -4.30%
Charter Communications Inc. (CHTR) $322.32 -2.81%
Western Digital Corp. (WDC) $65.03 -1.90%
Incyte Corp. (INCY) $63.11 -1.58%
Amazon.Com Inc. (AMZN) $191.04 -1.46%
Costco Wholesale Corp. (COST) $903.81 -1.45%
Microsoft Corp. (MSFT) $427.51 -1.39%
Synopsys Inc. (SNPS) $498.80 -1.38%
Meta Platforms Inc. (META) $557.64 -1.20%