Wall Street stocks were in the red early on Tuesday after the Commerce Department revealed that the US trade deficit had widened in November.
As of 1525 GMT, the Dow Jones Industrial Average was down 0.35% at 33,828.60, while the S&P 500 lost 0.86% to 3,964.42 and the Nasdaq Composite came out the gate 1.44% weaker at 11,077.97.
The Dow opened 118.50 points lower on Tuesday, extending losses recorded in the previous session.
The US trade deficit was in focus at the open, with the deficit widening to $78.2bn in October from $74.1bn in September, according to the Commerce Department, the second consecutive increase after contracting for the prior six months. Exports fell by $1.9bn, while imports rose by $2.2bn, as a decline in consumer goods imports was offset by a rebound in industrial supplies and other goods imports.
Also drawing an amount of investor attention was news that Beijing city will no longer require negative Covid tests to enter the majority of public spaces, malls, or residential areas.
Elsewhere, the spread on the two and ten-year treasuries notes were at their most inverted level in more than four decades, with the yield on the benchmark 10-year Treasury note and its two-year counterpart both up more than six points at 3.574% and 4.404%, respectively.
In the corporate space, Smith & Wesson and Stitch Fix will report earnings after the close.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones – Risers
JP Morgan Chase & Co. (JPM) $132.71 1.02%
Dow Chemical Co. (DOW) $51.70 0.88%
Unitedhealth Group Inc. (UNH) $539.62 0.86%
Amgen Inc. (AMGN) $286.91 0.70%
Travelers Company Inc. (TRV) $188.45 0.66%
Chevron Corp. (CVX) $177.40 0.48%
3M Co. (MMM) $125.21 0.47%
Coca-Cola Co. (KO) $63.71 0.38%
McDonald’s Corp. (MCD) $272.61 0.38%
International Business Machines Corporation (CDI) (IBM) $147.54 0.09%
Dow Jones – Fallers
Visa Inc. (V) $209.40 -2.00%
Boeing Co. (BA) $182.07 -1.64%
Goldman Sachs Group Inc. (GS) $365.95 -1.50%
Walt Disney Co. (DIS) $95.15 -0.81%
Verizon Communications Inc. (VZ) $36.78 -0.77%
Nike Inc. (NKE) $108.81 -0.74%
Intel Corp. (INTC) $28.96 -0.72%
Salesforce.Com Inc. (CRM) $132.98 -0.71%
Cisco Systems Inc. (CSCO) $48.99 -0.68%
Apple Inc. (AAPL) $145.65 -0.67%
S&P 500 – Risers
Textron Inc. (TXT) $74.86 7.10%
Arconic Inc. (ARNC) $22.80 2.54%
Nucor Corp. (NUE) $153.65 1.75%
General Electric Co. (GE) $86.07 1.67%
Kraft Heinz Co. (KHC) $40.22 1.53%
AT&T Inc. (T) $19.02 1.47%
FMC Technologies Inc. (FTI) $12.20 1.41%
Ross Stores Inc. (ROST) $118.93 1.34%
Estee Lauder Co. Inc. (EL) $234.27 1.21%
PVH Corp. (PVH) $72.03 1.20%
S&P 500 – Fallers
NRG Energy Inc. (NRG) $36.81 -9.88%
Meta Platforms Inc. (META) $116.69 -4.69%
Svb Financial Group (SIVB) $200.24 -4.30%
Kohls Corp. (KSS) $28.33 -3.92%
Charter Communications Inc. (CHTR) $374.57 -3.41%
Bank of America Corp. (BAC) $33.33 -3.31%
Advanced Micro Devices Inc. (AMD) $71.36 -3.07%
Expedia Group Inc. (EXPE) $97.84 -2.80%
United Parcel Service Inc. (UPS) $176.29 -2.69%
Norfolk Southern Corp. (NSC) $240.97 -2.56%
Nasdaq 100 – Risers
Baidu Inc. (BIDU) $119.41 2.13%
Kraft Heinz Co. (KHC) $40.22 1.53%
Ross Stores Inc. (ROST) $118.93 1.34%
Trip.com Group Limited (TCOM) $32.98 0.86%
Amgen Inc. (AMGN) $286.91 0.70%
Qurate Retail Inc. (QRTEA) $2.17 0.46%
Mondelez International Inc. (MDLZ) $67.71 0.42%
PACCAR Inc. (PCAR) $103.78 0.41%
Monster Beverage Corp (MNST) $102.46 0.29%
Gilead Sciences Inc. (GILD) $88.19 0.24%
Nasdaq 100 – Fallers
Meta Platforms Inc. (META) $116.69 -4.69%
Charter Communications Inc. (CHTR) $374.57 -3.41%
Expedia Group Inc. (EXPE) $97.84 -2.80%
Tesla Inc (TSLA) $177.36 -2.79%
NetEase Inc. Ads (NTES) $67.50 -2.20%
Western Digital Corp. (WDC) $34.11 -1.95%
Dish Network Corp. (DISH) $14.19 -1.90%
Nvidia Corp. (NVDA) $163.02 -1.85%
QUALCOMM Inc. (QCOM) $121.20 -1.70%
Paypal Holdings Inc (PYPL) $72.37 -1.70%
