(Reuters) – The New York Stock Exchange opened lower on Tuesday, with the exception of the Nasdaq which was close to balance, awaiting the results of one of the country’s technology giants, the parent company of Google, Alphabet, and the “Jolt” indicator on job creation.
In early trading, the Dow Jones index lost 177.91 points, or 0.42%, to 42,209.66 points and the broader Standard & Poor’s 500 fell 0.13% to 5,816.18 points.
The Nasdaq Composite, on the other hand, gained 0.07%, or 12.20 points, to 18,579.39 points.
The “Jolt” indicator, which measures the number of jobs created in the world’s largest economy, is expected around 14:00 GMT. Analysts polled by Reuters expect 8 million jobs to be created in September, according to LSEG data.
On the corporate earnings side, this week will be the busiest for the S&P 500, with attention focused on five of the “Magnificent Seven” due to release their numbers by Thursday.
Google’s results, expected after the close of Wall Street, will be decisive in assessing whether the American stock market can afford to maintain its current optimism regarding technology stocks and artificial intelligence, which have allowed the index to reach records this year.
However, stocks sensitive to key rates are under pressure as bond yields continue to soar, driven by speculation around the US presidential race.
In terms of values, McDonald’s gained 1.6%, making up for its pre-market losses after posting on Tuesday a stronger than expected drop in its global quarterly sales on a comparable basis.
Ford loses 8.4% after lowering its annual profit outlook.
Keurig Dr Pepper lost 3.8% after announcing that its majority shareholder, JAB Holding, intends to sell part of its stake in the group.
(Written by Pauline Foret, edited by Kate Entringer)
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