US open: Dow headed for weekly loss despite early gains
Wall Street stocks were in the green early on Friday but were still on track for a losing week.
As of 1515 BST, the Dow Industrial Average was up 0.44% at 42,562.32, while the S&P 500 advanced 0.80% to 5,856.60 and the Nasdaq Composite came out the gate 1.28% firmer at 18,652.06.
The Dow opened 187.96 points higher on Friday, more than reversing losses recorded in the previous session as both IBM and Boing weighed on the blue-chip index.
Trade Nation's David Morrison said: "In the absence of a significant rally, the US majors are on course to post losses this week. But that doesn't mean that the rally is over.
"Next week sees five of the 'Magnificent Seven' report earnings with Apple, Microsoft, Meta, Apple and Amazon all on tap, rounded off with non-farms at the end of next week. This could prove a big test for the markets while also being a driver of sentiment as we head towards year-end."
The yield on the benchmark 10-year Treasury note was down more than three basis points at 4.186% shortly after the open, well and truly off highs of more than 4.25% seen earlier in the week.
On the macro front, durable goods orders decreased by 0.8% to $284.8bn in September, according to the Census Bureau, matching the previous month's revised drop.
Elsewhere, the University of Michigan's consumer sentiment index was upwardly revised to 70.5 in October from a preliminary reading of 68.9, marking a third straight monthly increase and the highest level seen since April.
In the corporate space, Colgate-Palmolive lifted the lower end of its FY sales guidance after beating Q3 estimates, while Newell Brands met Q3 expectations and raised guidance.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Intel Corp. (INTC) $22.97 2.81%
Salesforce.Com Inc. (CRM) $293.65 2.40%
Microsoft Corp. (MSFT) $431.68 1.64%
Unitedhealth Group Inc. (UNH) $569.42 1.54%
Walgreens Boots Alliance, Inc. (WBA) $9.48 1.50%
Walt Disney Co. (DIS) $96.48 1.13%
Cisco Systems Inc. (CSCO) $56.48 0.93%
Amgen Inc. (AMGN) $318.15 0.78%
Chevron Corp. (CVX) $151.35 0.60%
Apple Inc. (AAPL) $231.93 0.59%
Dow Jones - Fallers
Dow Chemical Co. (DOW) $50.25 -1.45%
Travelers Company Inc. (TRV) $253.33 -1.21%
McDonald's Corp. (MCD) $298.19 -1.12%
Merck & Co. Inc. (MRK) $104.93 -0.90%
International Business Machines Corporation (CDI) (IBM) $217.07 -0.60%
Procter & Gamble Co. (PG) $168.63 -0.58%
Johnson & Johnson (JNJ) $163.04 -0.38%
Home Depot Inc. (HD) $401.13 -0.38%
3M Co. (MMM) $126.15 -0.25%
JP Morgan Chase & Co. (JPM) $224.55 -0.19%
S&P 500 - Risers
Digital Realty Trust (DLR) $189.54 14.78%
Tapestry Inc. (TPR) $50.92 14.50%
Centene Corp. (CNC) $68.09 10.50%
Western Digital Corp. (WDC) $72.22 8.90%
Capital One Financial Corp. (COF) $165.22 7.80%
Aon plc (AON) $384.11 7.64%
Resmed Inc. (RMD) $256.43 7.27%
Discover Financial Services (DFS) $153.30 7.11%
Equinix, Inc. (EQIX) $938.83 4.81%
L3Harris Technologies Inc. (LHX) $255.11 4.48%
S&P 500 - Fallers
Mohawk Inds Inc. (MHK) $136.27 -10.27%
Principal Financial Group Inc (PFG) $82.85 -7.59%
Universal Health Services Inc. (UHS) $207.67 -7.56%
Hartford Financial Services Group Inc. (HIG) $113.25 -5.99%
DENTSPLY Sirona Inc. (XRAY) $23.33 -4.42%
Newmont Corporation (NEM) $47.51 -3.52%
Colgate-Palmolive Co. (CL) $96.69 -3.06%
Edwards Lifesciences Corp. (EW) $68.53 -2.59%
Whirlpool Corp. (WHR) $107.89 -2.25%
Brighthouse Financial, Inc. (BHF) $47.99 -1.91%
Nasdaq 100 - Risers
Western Digital Corp. (WDC) $72.22 8.90%
Tesla Inc (TSLA) $269.20 3.35%
Intel Corp. (INTC) $22.97 2.81%
Cadence Design Systems Inc. (CDNS) $258.07 2.70%
Applied Materials Inc. (AMAT) $188.52 2.60%
QUALCOMM Inc. (QCOM) $172.15 2.41%
Lam Research Corp. (LRCX) $78.38 2.36%
Workday, Inc. (WDAY) $242.21 2.28%
American Airlines Group (AAL) $13.07 2.27%
Synopsys Inc. (SNPS) $506.17 2.20%
Nasdaq 100 - Fallers
DENTSPLY Sirona Inc. (XRAY) $23.33 -4.42%
Qurate Retail Inc. (QRTEA) $0.56 -2.29%
Henry Schein Inc. (HSIC) $70.21 -0.95%
Hologic Inc. (HOLX) $80.33 -0.71%
Trip.com Group Limited (TCOM) $61.74 -0.51%
Fiserv Inc. (FI) $202.35 -0.46%
Expedia Group Inc. (EXPE) $159.88 -0.36%
Kraft Heinz Co. (KHC) $34.96 -0.21%
Starbucks Corp. (SBUX) $96.96 -0.20%
Mondelez International Inc. (MDLZ) $69.82 -0.19%