10/2, 3:31 PM (Source: TeleTrader)
more TeleTrader news

US markets open mostly lower ahead of Powell's speech

Major US stock markets opened mostly lower on Monday with investors awaiting the speech by Federal Reserve Chairman Jerome Powell and other central bank officials on monetary policy.

On the business front, Rivian Automotive Inc. revealed that its production jumped 17% in the third quarter of 2023, while its sales rose 23% from the previous quarter. Tesla also said its third-quarter production and sales came in at a lower-than-expected level. In addition, after the markets open, PMI and construction spending data will be released.

At 9:30 am ET, the Dow Jones lost 0.22%, as 3M Co decreased by 1.21%. The Nasdaq 100 was flat but moved into green territory shortly after the opening, gaining 0.10%, with ON Semiconductor Corp increasing by 2.24%. The S&P 500 declined 0.13%, while SolarEdge Technologies dropped by 3.38%.

The euro was down 0.48% against the dollar at 9:28 am ET, selling for $1.05240.

Baha Breaking News (BBN) / JJ