US open: Stocks mixed as investors look ahead to FOMC decision
Major indices were mixed early on Monday as market participants looked ahead to the outcome of the Federal Reserve's two-day policy meeting later in the week.
As of 1525 GMT, the Dow Jones Industrial Average was down 0.02% at 43,820.19, while the S&P 500 advanced 0.19% to 6,062.34 and the Nasdaq Composite came out the gate 0.39% firm at 20,004.91.
The Dow opened 7.87 points lower on Monday, modestly extending losses recorded in the previous session.
This week's primary focus will be the FOMC's monetary policy meeting on Wednesday, with market participants widely expecting to see the central bank cut its benchmark overnight interest rate by a further 25 basis points.
On the macro front for Monday, the New York Empire State manufacturing index fell to 0.20 in December, according to the Federal Reserve Bank of New York, down from 31.2 in November and missing forecasts for a reading of 12. New orders and shipments increased modestly, while delivery times shortened slightly and supply availability was little changed.
Elsewhere, a preliminary reading of S&P Global's manufacturing PMI fell to 48.3 in December, down from 49.7 in November and well below market expectations for a reading of 48.9, while the services PMI rose to 58.5, up from 56.1 a month earlier and beating expectations for a drop to 55.7.
No major corporate earnings were slated for release on Monday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Nike Inc. (NKE) $78.66 1.83%
McDonald's Corp. (MCD) $300.63 1.36%
Procter & Gamble Co. (PG) $172.32 0.74%
Coca-Cola Co. (KO) $63.54 0.67%
Travelers Company Inc. (TRV) $247.80 0.61%
Salesforce.Com Inc. (CRM) $355.81 0.42%
Visa Inc. (V) $315.84 0.35%
Apple Inc. (AAPL) $248.99 0.35%
Intel Corp. (INTC) $20.41 0.32%
Goldman Sachs Group Inc. (GS) $587.20 0.29%
Dow Jones - Fallers
Walgreens Boots Alliance, Inc. (WBA) $10.02 -3.51%
Verizon Communications Inc. (VZ) $41.46 -1.94%
Dow Chemical Co. (DOW) $40.51 -0.87%
International Business Machines Corporation (CDI) (IBM) $228.95 -0.81%
Cisco Systems Inc. (CSCO) $58.28 -0.59%
Chevron Corp. (CVX) $153.07 -0.52%
Microsoft Corp. (MSFT) $445.40 -0.42%
Walt Disney Co. (DIS) $112.92 -0.37%
Unitedhealth Group Inc. (UNH) $518.63 -0.36%
Boeing Co. (BA) $169.10 -0.33%
S&P 500 - Risers
Broadcom Inc. (AVGO) $246.46 9.64%
Micron Technology Inc. (MU) $110.07 7.38%
Foot Locker Inc. (FL) $23.04 5.69%
Western Union Co. (WU) $11.19 4.04%
Nektar Therapeutics (NKTR) $1.05 3.96%
Bath & Body Works, Inc. (BBWI) $39.52 3.40%
Keysight Technologies Inc. (KEYS) $172.02 3.32%
NetApp Inc. (NTAP) $125.50 2.91%
Tapestry Inc. (TPR) $65.00 2.86%
Cadence Design Systems Inc. (CDNS) $314.97 2.68%
S&P 500 - Fallers
Hanesbrands Inc. (HBI) $8.35 -4.13%
Walgreens Boots Alliance, Inc. (WBA) $10.02 -3.51%
Ford Motor Co. (F) $10.07 -3.03%
Apache Corp. (APA) $22.26 -2.60%
Starbucks Corp. (SBUX) $94.98 -2.50%
Phillips 66 Common Stock (PSX) $119.69 -2.46%
AT&T Inc. (T) $23.10 -2.22%
QUALCOMM Inc. (QCOM) $155.06 -2.19%
Verizon Communications Inc. (VZ) $41.46 -1.94%
HF Sinclair Corporation (DINO) $36.78 -1.79%
Nasdaq 100 - Risers
Broadcom Inc. (AVGO) $246.46 9.64%
Micron Technology Inc. (MU) $110.07 7.38%
Cadence Design Systems Inc. (CDNS) $314.97 2.68%
DENTSPLY Sirona Inc. (XRAY) $20.16 2.22%
Western Digital Corp. (WDC) $66.54 2.19%
Lam Research Corp. (LRCX) $77.67 1.85%
Illumina Inc. (ILMN) $146.46 1.80%
Synopsys Inc. (SNPS) $517.32 1.78%
Alphabet Inc. Class A (GOOGL) $193.10 1.73%
Alphabet Inc. Class C (GOOG) $194.61 1.69%
Nasdaq 100 - Fallers
Qurate Retail Inc. (QRTEA) $0.35 -3.89%
Walgreens Boots Alliance, Inc. (WBA) $10.02 -3.51%
Starbucks Corp. (SBUX) $94.98 -2.50%
Liberty Global plc Series C (LBTYK) $13.40 -2.19%
QUALCOMM Inc. (QCOM) $155.06 -2.19%
Liberty Global plc Series A (LBTYA) $12.72 -2.15%
Sirius XM Holdings Inc (SIRI) $23.66 -1.87%
Wynn Resorts Ltd. (WYNN) $93.01 -1.61%
Hasbro Inc (HAS) $60.78 -1.58%
Nvidia Corp. (NVDA) $132.31 -1.45%