US open: Stocks mixed, Powell sounds hawkish note in Sintra

Wall Street's main market gauges were trading in mixed fashion early in the session, as the head of the US central bank continued to push back against market expectations for a peak in interest rates as soon as July.

Speaking at the ECB's semi-annual policy retreat in Sintra, Portugal, Jerome Powell reminded his audience that in their latest set of economic projections "quite a strong majority" of top Federal Reserve officials had forecast at least two more hikes for 2023.

Powell also said that he would not take the possibility of moving on rates at consecutive meetings off the table "at all".

As of 1612 BST the Dow Jones Industrials was off by 0.48% to 33,763.07, but the Nasdaq Composite was up by 0.30% at 13,595.28.

In the background, the US dollar spot index was climbing 0.51% to 103.01.

The yield on the benchmark 10-year US Treasury note was off by two basis points to 3.748%.

Also dragging on sentiment was a report that the US government might be mulling restrictions on the export to China of the chips used for artificial intelligence.

Elsewhere on the economic front, preliminary data from the Department of Commerce revealed a decline in the deficit on foreign trade in goods from $97.1bn for April to $91.1bn in May.

On the company side of things, Spirit AeroSystems and its machinists reached a preliminary deal on a new wage deal with a vote set to take place on Thursday.

Spirit was a key supplier for Boeing.

General Mills shares were trading down by 5% after the food manufacturer's posted lower-than-expected quarterly sales.

Dow Jones - Risers

Salesforce.Com Inc. (CRM) $211.09 1.09%
Microsoft Corp. (MSFT) $337.49 0.87%
Apple Inc. (AAPL) $189.38 0.70%
Boeing Co. (BA) $210.18 0.36%
Chevron Corp. (CVX) $153.96 0.28%
3M Co. (MMM) $98.39 0.14%
Walmart Inc. (WMT) $154.68 0.12%
Dowdupont Inc. (DWDP) $0.00 0.00%
American Express Co. (AXP) $168.10 -0.05%
Walt Disney Co. (DIS) $89.00 -0.06%

Dow Jones - Fallers

Travelers Company Inc. (TRV) $168.57 -2.33%
Amgen Inc. (AMGN) $218.79 -1.72%
Home Depot Inc. (HD) $308.70 -1.60%
Walgreens Boots Alliance, Inc. (WBA) $28.26 -1.33%
Unitedhealth Group Inc. (UNH) $476.69 -1.22%
Merck & Co. Inc. (MRK) $111.96 -1.20%
Intel Corp. (INTC) $33.72 -1.11%
Coca-Cola Co. (KO) $60.52 -0.93%
Nike Inc. (NKE) $112.57 -0.92%
Johnson & Johnson (JNJ) $161.91 -0.85%

S&P 500 - Risers

Carnival Corp. (CCL) $17.09 7.58%
Norwegian Cruise Line Holdings Ltd (NCLH) $20.88 6.57%
Jefferies Financial Group Inc. (JEF) $33.28 4.20%
Weyerhaeuser Co. (WY) $33.10 3.96%
Netflix Inc. (NFLX) $433.08 3.84%
Royal Caribbean Cr (RCL) $104.00 2.53%
Carmax Inc. (KMX) $84.36 2.35%
Idexx Laboratories Inc. (IDXX) $495.06 2.24%
Chipotle Mexican Grill Inc. (CMG) $2,112.50 2.21%
Williams Companies Inc. (WMB) $32.01 2.02%

S&P 500 - Fallers

General Mills Inc. (GIS) $76.49 -5.45%
Sl Green Realty Corp. (SLG) $29.40 -4.30%
J. M. Smucker Co. (SJM) $145.21 -3.69%
Regeneron Pharmaceuticals Inc. (REGN) $690.50 -3.57%
Tractor Supply Company (TSCO) $215.19 -3.56%
Freeport-McMoRan Inc (FCX) $39.00 -3.49%
Nektar Therapeutics (NKTR) $0.56 -3.45%
ConAgra Brands Inc (CAG) $33.06 -3.43%
Hanesbrands Inc. (HBI) $4.39 -3.41%
Under Armour Inc. Class A (UAA) $7.05 -3.29%

Nasdaq 100 - Risers

Qurate Retail Inc. (QRTEA) $0.93 6.46%
Netflix Inc. (NFLX) $433.08 3.84%
Sirius XM Holdings Inc (SIRI) $4.24 3.55%
Mercadolibre Inc. (MELI) $1,203.19 3.54%
Tesla Inc (TSLA) $258.05 3.13%
Idexx Laboratories Inc. (IDXX) $495.06 2.24%
Expedia Group Inc. (EXPE) $110.12 1.88%
Workday, Inc. (WDAY) $228.03 1.70%
Align Technology Inc. (ALGN) $346.16 1.61%
Take-Two Interactive Software Inc. (TTWO) $148.65 1.58%

Nasdaq 100 - Fallers

JD.com, Inc. (JD) $34.43 -3.69%
Regeneron Pharmaceuticals Inc. (REGN) $690.50 -3.57%
Liberty Global plc Series C (LBTYK) $17.73 -2.21%
Kraft Heinz Co. (KHC) $34.88 -1.97%
Liberty Global plc Series A (LBTYA) $16.91 -1.86%
Baidu Inc. (BIDU) $141.27 -1.83%
QUALCOMM Inc. (QCOM) $117.70 -1.74%
Amgen Inc. (AMGN) $218.79 -1.72%
Mondelez International Inc. (MDLZ) $72.76 -1.58%
Incyte Corp. (INCY) $60.71 -1.58%