US open: Stocks mostly higher ahead of midterms, CPI
Wall Street stocks were mostly in the green early on Monday as investors look ahead to this week's midterm election and the publication of the all-important consumer price index.
As of 1525 GMT, the Dow Jones Industrial Average was up 0.55% at 32,582.51, while the S&P 500 advanced 0.23% to 3,779.12 and the Nasdaq Composite came out the gate 0.06% softer at 10,469.20.
The Dow Jones opened 179.29 points higher on Monday, extending gains recorded in the previous session as market participants thumbed over a hotter-than-expected non-farm payrolls report.
Monday's early gains come ahead of Tuesday's midterm election, which will determine which US party will control Congress, impacting future government spending, while
Traders were also looking forward to Thursday’s CPI report, which will give further insight into the Fed's efforts to fight inflation, with another hot inflation report likely to convince investors that a pivot away from higher interest rates may be further away than currently thought.
Investors also digested China's renewed commitment to remain steadfast with its strict Covid-related measures following optimism last week that authorities would change their minds on restrictions that have been dragging down economic growth in the world's second-largest economy.
On the macro front, September consumer credit change figures will be out at 2100 GMT, while the Federal Reserve's Loretta Mester and Susan Collins will deliver speeches at 2140 GMT.
In the corporate space, Apple stock traded lower at the open after the tech behemoth revealed that iPhone production had been temporarily halted due to Covid-19 restrictions in China, while Palantir Technologies posted Q3 earnings that fell short of estimates.
Activision Blizzard, Lyft and Take-Two Interactive will all report earnings after the close of trading.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Walgreens Boots Alliance, Inc. (WBA) $38.76 4.56%
Boeing Co. (BA) $164.78 2.98%
Salesforce.Com Inc. (CRM) $142.11 1.67%
Microsoft Corp. (MSFT) $224.80 1.54%
Procter & Gamble Co. (PG) $135.90 1.09%
Amgen Inc. (AMGN) $271.69 0.98%
Chevron Corp. (CVX) $185.11 0.92%
Johnson & Johnson (JNJ) $172.73 0.73%
Walt Disney Co. (DIS) $100.20 0.62%
Cisco Systems Inc. (CSCO) $44.77 0.56%
Dow Jones - Fallers
Nike Inc. (NKE) $94.09 -1.77%
Caterpillar Inc. (CAT) $224.71 -1.38%
Apple Inc. (AAPL) $136.80 -1.14%
Dow Chemical Co. (DOW) $48.71 -0.65%
3M Co. (MMM) $124.04 -0.64%
Home Depot Inc. (HD) $283.41 -0.22%
Intel Corp. (INTC) $28.15 -0.18%
Merck & Co. Inc. (MRK) $99.05 -0.15%
American Express Co. (AXP) $144.65 -0.05%
Unitedhealth Group Inc. (UNH) $537.91 -0.05%
S&P 500 - Risers
Affiliated Mgrs Group (AMG) $133.68 7.88%
Dish Network Corp. (DISH) $14.29 7.04%
Meta Platforms Inc. (META) $95.43 5.11%
Walgreens Boots Alliance, Inc. (WBA) $38.76 4.56%
Fluor Corp. (FLR) $33.02 4.07%
CenturyLink Inc. (LUMN) $6.11 3.21%
Boeing Co. (BA) $164.78 2.98%
National Oilwell Varco Inc. (NOV) $23.83 2.65%
Paypal Holdings Inc (PYPL) $77.10 2.55%
Idexx Laboratories Inc. (IDXX) $381.02 2.48%
S&P 500 - Fallers
Expedia Group Inc. (EXPE) $87.88 -5.13%
Dominion Energy Inc. (D) $63.90 -4.81%
Lincoln National Corp. (LNC) $32.86 -4.53%
NortonLifeLock Inc. (NLOK) $21.17 -4.47%
Booking Holdings Inc. (BKNG) $1,813.95 -3.23%
Foot Locker Inc. (FL) $30.76 -3.18%
Netflix Inc. (NFLX) $253.13 -2.94%
Tapestry Inc. (TPR) $31.57 -2.76%
Prudential Fincl Inc. (PRU) $102.26 -2.67%
Estee Lauder Co. Inc. (EL) $205.00 -2.63%
Nasdaq 100 - Risers
Dish Network Corp. (DISH) $14.29 7.04%
Meta Platforms Inc. (META) $95.43 5.11%
Walgreens Boots Alliance, Inc. (WBA) $38.76 4.56%
Paypal Holdings Inc (PYPL) $77.10 2.55%
Idexx Laboratories Inc. (IDXX) $381.02 2.48%
Adobe Systems Inc. (ADBE) $291.09 1.87%
Dollar Tree Inc (DLTR) $159.11 1.73%
Intuitive Surgical Inc. (ISRG) $243.68 1.73%
DENTSPLY Sirona Inc. (XRAY) $27.59 1.62%
Microsoft Corp. (MSFT) $224.80 1.54%
Nasdaq 100 - Fallers
Expedia Group Inc. (EXPE) $87.88 -5.13%
NortonLifeLock Inc. (NLOK) $21.17 -4.47%
Booking Holdings Inc. (BKNG) $1,813.95 -3.23%
Netflix Inc. (NFLX) $253.13 -2.94%
Tesla Inc (TSLA) $202.51 -2.39%
Illumina Inc. (ILMN) $219.77 -2.05%
Marriott International - Class A (MAR) $146.24 -1.83%
Costco Wholesale Corp. (COST) $479.24 -1.47%
Qurate Retail Inc. (QRTEA) $1.76 -1.40%
Apple Inc. (AAPL) $136.80 -1.14%