US open: Stocks trade higher, look to shrug off yesterday’s losses

by | Nov 10, 2023

(Sharecast News) – Wall Street stocks were in the green early on Friday as market participants zeroed in on Treasury yields and comments from the central bank’s chairman.
As of 1530 GMT, the Dow Jones Industrial Average was up 0.13% at 33,936.31, while the S&P 500 advanced 0.21% to 4,356.55 and the Nasdaq Composite came out the gate 0.38% firmer at 13,573.40.

The Dow opened 44.37 points higher on Friday, taking a small bite out of losses recorded in the previous session after Federal Reserve chairman Jerome Powell told markets he was “not confident” that the central bank has done enough to fight inflation just yet.

“The Federal Open Market Committee is committed to achieving a stance of monetary policy that is sufficiently restrictive to bring inflation down to 2% over time; we are not confident that we have achieved such a stance,” he said.

Bond yields were also in focus at the opening bell, with the yield on the benchmark ten-year note trading lower at 4.617%, while its two-year counterpart was slightly higher at 5.037%.

On the macro front, a preliminary reading of the University of Michigan’s consumer sentiment index declined for the fourth straight month in November. The University’s Consumer Sentiment Index, which asks people each month how they feel about the economy, their own finances, as well as the long-term economic outlook, dropped to a six-month low of 60.4. This was down from 63.8 in October and well below the 63.7 expected by analysts.

In the corporate space, Trade Desk shares plunged 27% in early trading after the digital advertising firm issued weak fourth-quarter revenue guidance, while shares in hydrogen fuel cell company Plug Power were down approximately 34% after posting a deeper-than-anticipated third-quarter loss and revenues that fell short of expectations.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones – Risers

Intel Corp. (INTC) $38.42 1.64%
Boeing Co. (BA) $196.20 1.48%
Apple Inc. (AAPL) $184.41 1.10%
Microsoft Corp. (MSFT) $364.36 1.02%
Dow Chemical Co. (DOW) $48.79 0.89%
Caterpillar Inc. (CAT) $236.21 0.88%
Goldman Sachs Group Inc. (GS) $322.94 0.67%
3M Co. (MMM) $92.30 0.65%
International Business Machines Corporation (CDI) (IBM) $147.49 0.59%
Salesforce.Com Inc. (CRM) $211.13 0.54%

Dow Jones – Fallers

Walt Disney Co. (DIS) $88.14 -2.44%
Merck & Co. Inc. (MRK) $100.89 -1.46%
Johnson & Johnson (JNJ) $146.35 -0.73%
Coca-Cola Co. (KO) $56.30 -0.64%
Verizon Communications Inc. (VZ) $35.49 -0.36%
Amgen Inc. (AMGN) $263.14 -0.35%
Unitedhealth Group Inc. (UNH) $537.39 -0.30%
Walgreens Boots Alliance, Inc. (WBA) $20.40 -0.24%
McDonald’s Corp. (MCD) $266.46 -0.17%
Home Depot Inc. (HD) $287.52 -0.12%

S&P 500 – Risers

Hologic Inc. (HOLX) $71.11 5.83%
Expedia Group Inc. (EXPE) $117.89 3.71%
Copart Inc. (CPRT) $48.24 3.32%
Advanced Micro Devices Inc. (AMD) $116.95 3.05%
FMC Technologies Inc. (FTI) $21.51 2.94%
Henry Schein Inc. (HSIC) $63.87 2.74%
DENTSPLY Sirona Inc. (XRAY) $27.98 2.68%
Devon Energy Corp. (DVN) $45.15 2.28%
Qorvo, Inc. (QRVO) $89.42 2.28%
Fluor Corp. (FLR) $35.21 2.27%

S&P 500 – Fallers

Illumina Inc. (ILMN) $92.42 -13.61%
Wynn Resorts Ltd. (WYNN) $82.93 -8.52%
Kohls Corp. (KSS) $21.31 -5.18%
CenturyLink Inc. (LUMN) $1.13 -3.81%
Foot Locker Inc. (FL) $19.67 -3.34%
VF Corp. (VFC) $14.65 -3.30%
Arista Networks Inc. (ANET) $204.74 -3.26%
Brown Forman Corp. Class B (BF.B) $56.54 -3.14%
News Corp Class A (NWSA) $20.72 -2.68%
News Corp Class B (NWS) $21.54 -2.62%

Nasdaq 100 – Risers

Hologic Inc. (HOLX) $71.11 5.83%
Expedia Group Inc. (EXPE) $117.89 3.71%
Henry Schein Inc. (HSIC) $63.87 2.74%
DENTSPLY Sirona Inc. (XRAY) $27.98 2.68%
KLA-Tencor Corp. (KLAC) $517.77 2.25%
Lam Research Corp. (LRCX) $662.92 1.95%
Broadcom Inc. (AVGO) $927.05 1.72%
Applied Materials Inc. (AMAT) $145.59 1.69%
Microchip Technology Inc. (MCHP) $74.94 1.68%
Intel Corp. (INTC) $38.42 1.64%

Nasdaq 100 – Fallers

Illumina Inc. (ILMN) $92.42 -13.61%
Wynn Resorts Ltd. (WYNN) $82.93 -8.52%
Dish Network Corp. (DISH) $3.35 -2.62%
Sirius XM Holdings Inc (SIRI) $4.61 -1.71%
Qurate Retail Inc. (QRTEA) $0.62 -1.68%
Incyte Corp. (INCY) $51.80 -1.37%
Regeneron Pharmaceuticals Inc. (REGN) $789.39 -1.36%
Hasbro Inc (HAS) $42.69 -1.32%
American Airlines Group (AAL) $11.61 -1.15%
Seagate Technology Plc (STX) $71.20 -1.11%

Related articles

US open: Stocks mixed in early trading

US open: Stocks mixed in early trading

(Sharecast News) - US stocks were mixed early on Tuesday following a losing day on Wall Street. As of 1530 GMT, the Dow Jones Industrial Average was up 0.08% at 35,362.58, while the S&P 500 was 0.07% weaker at 4,547.46 and the Nasdaq Composite came out the gate 0.08%...

US open: Stocks mixed early on Cyber Monday

US open: Stocks mixed early on Cyber Monday

(Sharecast News) - Wall Street stocks were mostly in the red early on Monday as major indices come off their fourth-straight winning week. As of 1550 GMT, the Dow Jones Industrial Average was down 0.16% at 35,335.04, while the S&P 500 lost 0.11% to 4,554.30 and the...

US open: Mixed start to trading in Holiday-shortened session

US open: Mixed start to trading in Holiday-shortened session

(Sharecast News) - Wall Street stocks were mixed early on Friday as traders returned from their Thanksgiving Day break. As of 1510 GMT, the Dow Jones Industrial Average was up 0.29% at 35,374.88, while the S&P 500 advanced 0.02% to 4,557.44 and the Nasdaq Composite...

Latest Articles

Join our mailing list

Subscribe to our mailing list to receive regular updates!

x