US open: Stocks mixed as Dow comes off best week in over a year

dl wall street wall st new york city new york stock exchange nyse dow jones nasdaq street sign nyc united states usa america pb — Sharecast / Alessandro D Andrea via Pixabay

US trading got off to a mixed start on Monday as major indices come off their best week so far this year.

As of 1510 GMT, the Dow Jones Industrial Average was down 0.01% at 34,058.45, while the S&P 500 advanced 0.10% at 4,362.74 and the Nasdaq Composite came out the gate 0.23% firmer at 13,509.86.

The Dow opened 2.87 points lower on Monday, doing little to hurt gains recorded in the previous session despite the Department of Labor revealing that hiring had slowed to a pace of 150,000 in October, short of consensus estimates for a reading of 170,000.

Wall Street trading has gotten off to a positive start in November, with the Dow ending last week 5.07% higher for its biggest weekly gain since October 2022, while the S&P advanced 5.85% and the Nasdaq Composite jumped 6.6% for both indices' best week since November 2022.

The week ahead will be light on both economic data and company earnings, with comments from Fed chairman Jerome Powell following the central bank's interest rate decision last week and earnings from Walt Disney, Wynn and MGM Resorts set to be the week's primary focus.

In the corporate space, drugmaker BioNTech slashed its full-year revenue guidance by roughly $1.1bn as a result of reduced demand for its Covid-19 vaccine, down approximately 20%.

Still to come, Goodyear Tire & Rubber was slated to publish its latest quarterly numbers after the close of trading.

On the macro front, no major data points were scheduled for release on Monday but Federal Reserve board governor Lisa Cook will deliver a speech at 1600 GMT.

In addition to Powell, New York president John Williams, Atlanta president Raphael Bostic, Richmond president Thomas Barkin and Dallas president Lorie Logan will all make public remarks throughout the course of the week.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Apple Inc. (AAPL) $178.62 1.12%
Microsoft Corp. (MSFT) $355.97 0.90%
International Business Machines Corporation (CDI) (IBM) $148.97 0.72%
Amgen Inc. (AMGN) $271.50 0.61%
Travelers Company Inc. (TRV) $169.39 0.58%
JP Morgan Chase & Co. (JPM) $143.63 0.44%
Coca-Cola Co. (KO) $56.97 0.41%
Chevron Corp. (CVX) $148.16 0.37%
Johnson & Johnson (JNJ) $151.89 0.36%
Visa Inc. (V) $244.39 0.32%