US open: Stocks slightly lower as consumer confidence drops to four-month low
Wall Street stocks traded modestly lower early on Tuesday as turmoil in China and declining consumer confidence weighed on sentiment.
As of 1505 GMT, the Dow Jones Industrial Average was down 0.10% at 33,814.27, while the S&P 500 lost 0.03% to 3,962.60 and the Nasdaq Composite came out the gate 0.06% weaker at 11,043.27.
The Dow opened 35.19 points lower on Tuesday, narrowly extending losses recorded in the previous session amid concerns about social unrest in China stemming from the nation's ongoing Covid-19 restrictions.
Stocks traded slightly lower at the open after growing frustration in mainland China weighed on global markets around the world and briefly pushed West Texas Intermediate crude futures to their lowest level since December 2021. Both Brent and WTI futures have since changed direction and traded higher at the start of the session.
On the macro front, the Conference Board's consumer confidence index dropped to a four-month low of 100.2 in November, down from October's print of 102.5. Market participants were looking very closely at the outcome as they hope to glean some hints as to consumer health in the US.
Elsewhere, S&P Case Shiller's home price index decreased to 306.29 in September, down from 310.99 in August.
Still to come, November's Dallas Fed services index will be on deck at 1530 GMT.
In terms of earnings, financial software firm Intuit will release its first quarter figures after the close of trading.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Chevron Corp. (CVX) $179.98 0.91%
Intel Corp. (INTC) $28.97 0.84%
Nike Inc. (NKE) $105.78 0.78%
Boeing Co. (BA) $172.99 0.68%
Walgreens Boots Alliance, Inc. (WBA) $41.02 0.51%
American Express Co. (AXP) $151.63 0.50%
JP Morgan Chase & Co. (JPM) $135.01 0.49%
3M Co. (MMM) $125.12 0.39%
Travelers Company Inc. (TRV) $186.86 0.29%
International Business Machines Corporation (CDI) (IBM) $146.59 0.28%
Dow Jones - Fallers
Unitedhealth Group Inc. (UNH) $528.29 -0.75%
McDonald's Corp. (MCD) $270.84 -0.75%
Home Depot Inc. (HD) $316.84 -0.65%
Johnson & Johnson (JNJ) $176.18 -0.65%
Visa Inc. (V) $209.95 -0.62%
Apple Inc. (AAPL) $143.52 -0.49%
Procter & Gamble Co. (PG) $145.90 -0.47%
Walmart Inc. (WMT) $152.79 -0.47%
Coca-Cola Co. (KO) $62.48 -0.35%
Microsoft Corp. (MSFT) $241.18 -0.24%
S&P 500 - Risers
Wynn Resorts Ltd. (WYNN) $81.92 4.75%
Freeport-McMoRan Inc (FCX) $37.31 3.09%
CF Industries Holdings Inc. (CF) $107.35 2.82%
Under Armour Inc. Class A (UAA) $9.65 2.82%
Celanese Corp. (CE) $103.60 2.81%
Arconic Inc. (ARNC) $22.23 2.68%
Bread Financial Holdings, Inc. (BFH) $39.09 2.60%
Tapestry Inc. (TPR) $37.41 2.55%
MGM Resorts International (MGM) $35.78 2.46%
Ralph Lauren Corp (RL) $110.57 2.43%
S&P 500 - Fallers
Dollar Tree Inc (DLTR) $144.01 -2.57%
VF Corp. (VFC) $31.64 -2.38%
Target Corp. (TGT) $161.51 -2.33%
Nordstrom Inc. (JWN) $20.11 -1.93%
H&R Block Inc. (HRB) $42.50 -1.87%
NextEra Energy Inc. (NEE) $82.21 -1.81%
Constellation Brands Inc. Class A (STZ) $253.11 -1.70%
Evergy, Inc. (EVRG) $57.73 -1.64%
Dollar General Corp (DG) $248.98 -1.63%
Regeneron Pharmaceuticals Inc. (REGN) $730.57 -1.47%
Nasdaq 100 - Risers
JD.com, Inc. (JD) $53.90 7.99%
Baidu Inc. (BIDU) $101.24 6.97%
NetEase Inc. Ads (NTES) $70.90 5.88%
Wynn Resorts Ltd. (WYNN) $81.92 4.75%
Trip.com Group Limited (TCOM) $28.94 2.95%
Expedia Group Inc. (EXPE) $100.99 1.34%
Hasbro Inc (HAS) $62.47 1.13%
Lam Research Corp. (LRCX) $448.23 1.13%
Meta Platforms Inc. (META) $109.85 0.98%
Paypal Holdings Inc (PYPL) $80.71 0.98%
Nasdaq 100 - Fallers
Dollar Tree Inc (DLTR) $144.01 -2.57%
Regeneron Pharmaceuticals Inc. (REGN) $730.57 -1.47%
Seagate Technology Plc (STX) $51.63 -1.29%
Qurate Retail Inc. (QRTEA) $2.09 -1.18%
Fastenal Co. (FAST) $50.63 -1.10%
O'Reilly Automotive Inc. (ORLY) $845.11 -0.87%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $453.96 -0.72%
Activision Blizzard Inc. (ATVI) $74.19 -0.71%
T-Mobile Us, Inc. (TMUS) $148.88 -0.68%
Cintas Corp. (CTAS) $451.27 -0.68%