9/23/2022, 3:31 PM (Source: TeleTrader)
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US opens lower ahead of Fed Chair Powell's speech

United States stock indexes opened in the red on Friday in what could be the fourth straight day of losses. Federal Reserve Chair Jerome Powell is scheduled to speak later in the day following Wednesday's rate hike that rattled the markets. The preliminary September PMI report, measuring the activity in the private sector, is coming up just after the start of the session and is expected to show a slight improvement compared to August.

The Dow Jones was down by 0.87% or 260 points at 9:30 am ET, as American Express Co. declined by 1.10%. The Nasdaq 100 lost 1%, with Tesla falling 4.15%. The S&P 500 dropped 1.15%, led by APA Corp., which plunged 9.35%.

The euro traded 0.71% lower compared to the dollar and went for 0.97631 at 9:31 am ET.

Baha Breaking News (BBN) / DJ