US open: Mixed start to trading ahead of Alphabet earnings
Wall Street trading opened on a somewhat mixed note on Monday as investors braced for the release of more earnings, with Google parent Alphabet slated to report after the close.
At 1530 GMT, the Dow Jones Industrial Average was down 0.30% at 24,987.75 and the S&P 500 was trading 0.21% weaker at 2,700.82. The Nasdaq Composite on the other hand was 0.37% firmer at 7,290.65.
Trade relations between the US and China remained in focus after Donald Trump said in an interview with CBS that he sees a "good chance" of reaching a trade deal with China and making progress with North Korea on nuclear disarmament.
"It looks like we're doing very well with making a deal with China. I can tell you this, no two leaders of this country and China have ever been closer than I am with President Xi. We have a good chance to make a deal," he said.
"I don't know that we're going to make one, but we have a good chance. And if it is a deal it's going to be a real deal. It's not going to be a stopgap."
Oanda analyst Craig Erlam said: "This week is likely to be much quieter than the one just passed, with trade in Asia likely to be muted as much of the region celebrates Chinese New Year."
"Elsewhere it’s unlikely to be much more lively with the major political events - most notably US/China trade talks and Brexit - probably going a bit quieter this week, with talks having taken place last week in Washington and a vote in the UK parliament."
The USD was 0.26% higher against the GBP at 0.7664.
In corporate news, Ultimate Software Group surged 31.45% in early trade after the technology company agreed to be bought by an investor group led by Hellman & Friedman in an all-cash deal valued at about $11bn.
Elsewhere, consumer products group Clorox also picked up 3.94% at the open as its second-quarter profit beat analysts' expectations.
Papa John's rallied 8.21% as the session began after it emerged that activist hedge fund Starboard Value LP will make a $200m investment in the company. In addition, Starboard's chief executive officer, Jeffrey Smith, will replace Papa John's founder John Schnatter as chairman.