US open: Stocks lower ahead of Powell speech
By Iain Gilbert
Date: Tuesday 07 Feb 2023
(Sharecast News) - Wall Street stocks were in the red early on Tuesday as traders awaited comments from the Fed's Powell.
As of 1600 GMT, the Dow Jones Industrial Average was down 0.45% at 33,738.80, while the S&P 500 slipped 0.28% to 4,099.67 and the Nasdaq Composite came out the gate 0.05% softer at 11,881.85.
The Dow opened 152.22 points lower on Tuesday, extending losses recorded in the previous session.
Tuesday's primary focus will be on Federal Reserve chairman Jerome Powell, who is slated to deliver a speech before the Economic Club of Washington at 1740 GMT.
Elsewhere on the macro front, America's shortfall on trade with the rest of the world widened by less than expected at the end of 2022, as import growth picked up. According to the Department of Labor, in seasonally adjusted terms, the country's foreign trade deficit in goods and services widened at a month-on-month pace of 10.5% in December to reach $67.4bn. Economists had pencilled-in a deficit of -$68.5bn.
Still to come, consumer credit change data for December will follow at 2000 GMT.
In the corporate space, Chipotle, Spirit Airlines, H&R Block, Western Union, Royal Caribbean, and Valvoline will all report earnings on Tuesday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Microsoft Corp. (MSFT) $262.87 2.38%
Apple Inc. (AAPL) $152.93 0.79%
Chevron Corp. (CVX) $170.92 0.75%
Boeing Co. (BA) $207.79 0.47%
Merck & Co. Inc. (MRK) $104.49 0.44%
Dow Chemical Co. (DOW) $60.30 0.35%
Intel Corp. (INTC) $28.74 0.16%
JP Morgan Chase & Co. (JPM) $141.98 0.04%
Dowdupont Inc. (DWDP) $0.00 0.00%
Goldman Sachs Group Inc. (GS) $370.51 -0.08%
Dow Jones - Fallers
Home Depot Inc. (HD) $321.89 -2.24%
Nike Inc. (NKE) $123.52 -1.76%
Verizon Communications Inc. (VZ) $40.56 -1.75%
Walmart Inc. (WMT) $138.93 -1.24%
Procter & Gamble Co. (PG) $139.80 -1.13%
Johnson & Johnson (JNJ) $161.72 -1.00%
Caterpillar Inc. (CAT) $248.95 -0.98%
3M Co. (MMM) $115.44 -0.91%
Unitedhealth Group Inc. (UNH) $471.49 -0.79%
McDonald's Corp. (MCD) $265.95 -0.74%
S&P 500 - Risers
Skyworks Solutions Inc. (SWKS) $118.57 8.50%
Fiserv Inc. (FISV) $112.97 6.17%
Take-Two Interactive Software Inc. (TTWO) $111.82 5.93%
Activision Blizzard Inc. (ATVI) $75.60 5.61%
Royal Caribbean Cr (RCL) $72.04 4.27%
Cincinnati Financial Corp. (CINF) $118.82 3.07%
Valero Energy Corp. (VLO) $131.40 2.58%
Qorvo, Inc. (QRVO) $104.77 2.47%
Microsoft Corp. (MSFT) $262.87 2.38%
Norwegian Cruise Line Holdings Ltd (NCLH) $16.98 2.35%
S&P 500 - Fallers
Incyte Corp. (INCY) $79.81 -5.39%
Leggett & Platt Inc. (LEG) $34.13 -5.12%
Nordstrom Inc. (JWN) $23.17 -4.17%
Gartner Inc. (IT) $328.64 -3.60%
Macerich Co (MAC) $13.26 -3.56%
Ross Stores Inc. (ROST) $112.07 -3.15%
Simon Property Group Inc. (SPG) $124.81 -2.98%
Carmax Inc. (KMX) $75.71 -2.76%
Humana Inc. (HUM) $473.43 -2.63%
Tractor Supply Company (TSCO) $226.63 -2.49%
Nasdaq 100 - Risers
Baidu Inc. (BIDU) $157.64 10.38%
Skyworks Solutions Inc. (SWKS) $118.57 8.50%
Fiserv Inc. (FISV) $112.97 6.17%
Take-Two Interactive Software Inc. (TTWO) $111.82 5.93%
Activision Blizzard Inc. (ATVI) $75.60 5.61%
Trip.com Group Limited (TCOM) $37.17 2.81%
Microsoft Corp. (MSFT) $262.87 2.38%
Alphabet Inc. Class A (GOOGL) $104.61 1.66%
Alphabet Inc. Class C (GOOG) $105.11 1.58%
Workday, Inc. (WDAY) $186.22 1.36%
Nasdaq 100 - Fallers
Incyte Corp. (INCY) $79.81 -5.39%
Ross Stores Inc. (ROST) $112.07 -3.15%
Amazon.Com Inc. (AMZN) $99.74 -2.39%
Qurate Retail Inc. (QRTEA) $2.48 -2.17%
Align Technology Inc. (ALGN) $335.10 -2.15%
Regeneron Pharmaceuticals Inc. (REGN) $765.00 -2.03%
Hasbro Inc (HAS) $59.36 -1.93%
Mercadolibre Inc. (MELI) $1,153.21 -1.89%
Mondelez International Inc. (MDLZ) $64.92 -1.89%
O'Reilly Automotive Inc. (ORLY) $794.52 -1.84%
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