US open: Stocks dip at the start of August

by | Aug 1, 2023

(Sharecast News) – Wall Street’s main market gauges were dipping shortly after the start of trading in New York, against a backdrop of rising government bond yields.

Nevertheless, all of the main indices had finished higher for a fifth consecutive month just the day before.

At 1622 BST, the Dow Jones Industrial Average was drifting lower by 0.03% to 35,548.54, alongside a 0.37% decline for the S&P 500 to 4,572.09.

The Nasdaq Composite meanwhile was falling 0.48% to 14,277.71.

In parallel, the yield on the benchmark 10-year U.S. Treasury note was pushing farther above the 4.0% level, adding nine basis points to 4.053%.

Yields on the policy sensitive two year note were also on the up, adding six basis points to 4.916%.

Caterpillar was pacing gains on the Dow Jones Industrials after beating analysts’ estimates by a wide margin.

Uber Technologies was a top gainer after the company clocked in with its first quarterly operational profit.

And its finance director said that it would evaluate returning excess capital to shareholders as its cash flows ramped.

Pfizer was edging up despite missing estimates for its second quarter revenues, which declined by 54% to $12.73bn.

The Institute for Supply Management’s factory sector Purchasing Managers Index edged up from 46.0 for June to 46.4 in July (consensus: 46.8).

Job openings on the other hand were little changed in June, the Department of Labor reported, slipping by just 0.3% month-on-month to 9.582m, but the prior month’s tally was revised lower and the so-called quits rate fell from 2.6% to 2.4%.

Dow Jones – Risers

Caterpillar Inc. (CAT) $285.06 7.50%
Cisco Systems Inc. (CSCO) $52.48 0.85%
Walt Disney Co. (DIS) $89.58 0.78%
Johnson & Johnson (JNJ) $168.34 0.48%
Visa Inc. (V) $238.77 0.44%
Microsoft Corp. (MSFT) $336.93 0.30%
Boeing Co. (BA) $238.92 0.03%
Dowdupont Inc. (DWDP) $0.00 0.00%
Goldman Sachs Group Inc. (GS) $355.47 -0.11%
Walmart Inc. (WMT) $159.55 -0.19%

Dow Jones – Fallers

Verizon Communications Inc. (VZ) $33.40 -2.00%
Chevron Corp. (CVX) $161.25 -1.47%
Walgreens Boots Alliance, Inc. (WBA) $29.56 -1.37%
International Business Machines Corporation (CDI) (IBM) $142.28 -1.32%
Amgen Inc. (AMGN) $231.66 -1.06%
Dow Chemical Co. (DOW) $55.97 -0.89%
Nike Inc. (NKE) $109.54 -0.77%
McDonald’s Corp. (MCD) $291.02 -0.74%
JP Morgan Chase & Co. (JPM) $156.81 -0.73%
Unitedhealth Group Inc. (UNH) $503.61 -0.55%

S&P 500 – Risers

Arista Networks Inc. (ANET) $184.41 18.91%
Caterpillar Inc. (CAT) $285.06 7.50%
Global Payments Inc. (GPN) $118.39 7.39%
CenturyLink Inc. (LUMN) $1.88 5.31%
Eaton Corporation plc (ETN) $214.46 4.45%
Stanley Black & Decker Inc. (SWK) $103.32 4.07%
Sba Communications Corp. (SBAC) $227.57 3.94%
Leggett & Platt Inc. (LEG) $30.37 3.79%
Welltower Inc (WELL) $84.39 2.72%
Public Service Enterprise Group Inc. (PEG) $64.50 2.19%

S&P 500 – Fallers

Norwegian Cruise Line Holdings Ltd (NCLH) $18.78 -14.88%
Ipg Photonics Corp. (IPGP) $112.77 -14.21%
Rockwell Automation Inc. (ROK) $306.98 -8.71%
Carnival Corp. (CCL) $17.72 -5.94%
Illinois Tool Works Inc. (ITW) $247.80 -5.89%
Molson Coors Beverage Co. Class B (TAP) $65.75 -5.76%
Zimmer Biomet Holdings Inc (ZBH) $130.79 -5.32%
Hologic Inc. (HOLX) $75.83 -4.52%
American Airlines Group (AAL) $16.00 -4.48%
Sl Green Realty Corp. (SLG) $36.03 -4.46%

Nasdaq 100 – Risers

NetEase Inc. Ads (NTES) $110.20 1.34%
Broadcom Inc. (AVGO) $910.49 1.32%
Charter Communications Inc. (CHTR) $409.52 1.07%
Netflix Inc. (NFLX) $443.07 0.93%
Meta Platforms Inc. (META) $321.30 0.85%
Cisco Systems Inc. (CSCO) $52.48 0.85%
O’Reilly Automotive Inc. (ORLY) $931.81 0.65%
Marriott International – Class A (MAR) $203.00 0.59%
Henry Schein Inc. (HSIC) $79.14 0.44%
Seagate Technology Plc (STX) $63.76 0.40%

Nasdaq 100 – Fallers

Hologic Inc. (HOLX) $75.83 -4.52%
American Airlines Group (AAL) $16.00 -4.48%
Idexx Laboratories Inc. (IDXX) $530.19 -4.42%
Dish Network Corp. (DISH) $7.72 -2.71%
Mercadolibre Inc. (MELI) $1,205.40 -2.64%
Expedia Group Inc. (EXPE) $119.44 -2.52%
JD.com, Inc. (JD) $40.41 -2.18%
Western Digital Corp. (WDC) $41.65 -2.14%
Baidu Inc. (BIDU) $152.95 -1.95%
Tesla Inc (TSLA) $263.11 -1.62%

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