US open: Stocks mixed following losing week

dl wall street st new york city nyc nyse stock exchange ny dow jones nasdaq sp finance us usa united states of america — Wall StreetSharecast photo / Josh White

Major indices were mixed early on Monday as the Street attempts to bounce back from a losing week following a steep increase in last month's consumer price index.

As of 1520 GMT, the Dow Jones Industrial Average was up 0.23% at 36,181.63, while the S&P 500 was 0.11% firmer at 4,688.13 and the Nasdaq Composite was 0.09% stronger at 15,846,17.

The Dow Jones opened 81.32 points higher on Monday, building on gains recorded in the final session of last week.

Monday will likely be a fairly uneventful day on the Street, with investors holding out for retail sales data on Tuesday and new construction starts and building permits on Wednesday.

The only data point scheduled for release on Monday was the latest Empire State manufacturing survey, which revealed the business activity grew strongly across New York, with the headline index climbing 11.1 points to 30.9, up from the previous month's print of 19.8 and ahead of forecasts for a reading of 21.6.

Looking ahead, while firms that responded to the survey said they remained optimistic that conditions will improve over the next six months, they were less so than a month earlier as the index for future business conditions fell 15 points to 36.9.

Investors will also be looking at President Joe Biden's bill signing ceremony for the bipartisan Infrastructure Investment and Jobs Act.

No major corporate earnings were slated for release on Monday but investors will be looking out for results from several major retailers later in the week, with Walmart, Home Depot, Target and Lowe's all reporting throughout the course of the week.

Elsewhere, Tesla stock was in the red after Elon Musk suggested he may sell more shares in the elctric carmaker.

Dow Jones - Risers

Boeing Co. (BA) $228.62 3.47%
Visa Inc. (V) $215.44 1.58%
McDonald's Corp. (MCD) $252.80 0.85%
Apple Inc. (AAPL) $150.91 0.61%
American Express Co. (AXP) $182.86 0.53%
Nike Inc. (NKE) $169.90 0.48%
Chevron Corp. (CVX) $114.72 0.43%
JP Morgan Chase & Co. (JPM) $167.43 0.34%
Walmart Inc. (WMT) $148.16 0.27%
3M Co. (MMM) $184.09 0.23%