The three main Wall Street indices opened in red on Wednesday, as S&P 500 was dipped 0.33% at 5,831.60 points at the opening bell and the tech-heavy Nasdaq Composite was also down 0.42% to 18,494.50.
The 30-stock Dow Jones Industrial Average also opened lower by 0.58% to open at 42,674.95.
Stocks like Walmart Inc. were up 0.16%, Johnson & Johnson surged 0.09%, and Northen Trust Corp. jumped 6.61%. Among the companies that slipped in early trade were McDonald's Corp., which dropped 5.71% and Coca-Cola Co., which dipped 2.87%.
Among the 11 S&P 500 sectoral indices, three were trading higher, whereas eight lagged against the previous day's close. The gains were led by the industrial sector, real estate sector and utilities sector whereas the consumer discretionary sector, healthcare sector and consumer staples sector were among the drags.
“The broad stock market has been a bit boring over the past several trading days,” Matt Maley at Miller Tabak + Co told Bloomberg. “That could change, especially if the Treasury market and/or currency market see any kind of reversals soon. There will be plenty of volatility for some of the individual stocks that report earnings or have other new news that becomes available.”
As the US market opened, spot gold fell 0.58% to $2,733.17 an ounce. Crude oil prices were higher, with Brent trading 0.78% higher at $57.45 per barrel.
The Bloomberg Dollar Index rose 0.3%, with the British Pound dipped 0.2% to $1.2960 while the Japanese yen also fell 1.2% to 152.92 per dollar.
Bitcoin, the largest traded cryptocurrency, dropped 1.3% to $66,601.76.
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