US Stock Markets Today: Muted Start For S&P 500, Nasdaq As Investors Weigh Mixed Results
The Dow Jones Industrial Average slipped 77 points, or 0.2% to 42,249.81 at the opening bell.
The main Wall Street indices were little changed at the opening bell, as investors kept watch on the mixed quarterly results thrown by some of the tech majors.
The S&P 500 opened nearly flat or 0.27 points lower at 5,832.65, whereas the Dow Jones Industrial Average slipped 77 points, or 0.2% to 42,249.81 at the opening bell.
The tech-heavy Nasdaq Composite added 28.9 points, or 0.2% to open at 18,731.69.
Before the Wall Street opened, the results declared by Alphabet Inc., the parent of Google, was in focus. As the company exceeded analysts' estimates with its 15% year-on-year revenue growth, its shares spiked by 7.1% to $183.7 apiece in early trade.
The stock of chipmaker AMD Inc., however, slipped 9% to $151.28 apiece as the investors were unimpressed with its revenue guidance for the October-December period that missed analysts' estimates.
The market will also keep an eye on tech giants Microsoft Corp. and Meta Platforms Inc., which will post their quarterly results on Wednesday, followed by Apple Inc. and Amazon Inc. on Thursday.
After the US markets opened, the Bloomberg dollar spot index was little changed. The British Pound was nearly flat against the greenback, whereas the Euro climbed 0.28%. The 10-year treasury yield dipped by two basis points to 4.23%, according to Bloomberg data.
Bitcoin, the largest traded cryptocurrency, fell 0.7% to $71,791.85 shortly after the US equity markets opened.
In the commodities market, spot gold rose by 0.1% to $2,779 an ounce, where the metal's futures on the Comex climbed 0.3% to $2,789.6 an ounce.
Crude oil prices also ticked higher, with Brent crude futures trading 1.6% higher at $71.86 per barrel, whereas the US West Texas Intermediate crude rose 1.64% to $68.31 a barrel.
Before the Wall Street opened, its Asian peers settled on a mixed note. Hong Kong's Hang Seng index settled 1.55% lower, but Japan's Nikkei 225 ended with 0.96% gains. India's NSE Nifty 50 closed the day with a decline of 0.51%.
