Wall Street today: US stocks slip, Intel drops 5.5%, investors eye retail earnings & Powell speech

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US stock market opened flat on Monday as investors focused on corporate earnings reports from major retailers and the Federal Reserve’s annual symposium in Jackson Hole.

As of 12:15 PM Eastern Time, the S&P 500 slipped 0.1%, the Dow Jones Industrial Average was down less than 0.1%, and the Nasdaq Composite dipped 0.1%.

At 09:55 AM ET, the Dow Jones Industrial Average fell 2.15 points to 44,943.97, the S&P 500 lost 3.83 points, or 0.06%, to 6,445.97 and the Nasdaq Composite lost 28.59 points, or 0.13%, to 21,594.39.

At the opening bell, the Dow Jones Industrial Average rose 17.0 points, or 0.04%, to 44,963.17. The S&P 500 fell 4.8 points, or 0.07%, to 6,445.02, while the Nasdaq Composite dropped 6.2 points, or 0.03%, to 21,616.82.

Also Read | Jerome Powell will make his last stand at Jackson Hole

Among top retailers set to report their earnings this week are Home Depot, Lowe’s and Walmart, with markets keeping tabs on the impact of US President Donald Trump’s sweeping tariffs this year.

Market participants will also be monitoring remarks from central bankers this week as policymakers head to Wyoming for the annual Jackson Hole Economic Policy Symposium.

Federal Reserve Chair Jerome Powell is due to speak on Friday, with all eyes on how he frames the Fed’s approach to interest rates and hints on its next steps.

The yield on the 10-year Treasury rose to 4.34% from 4.33% late on Friday.

Gainers and Losers

Intel shares dropped as much as 5.5% after Bloomberg reported that the Trump administration is in discussions to take a stake of about 10% in the chipmaker.

Stocks of Home Depot slipped 0.8%, Target rose 2.4%, and Walmart added 0.4%.

UnitedHealth stock gained2.3%.

Dayforce shares soared 25.4% after a report said PE firm Thoma Bravo is in talks to acquire the HR management software firm.

Solar stocks such as SunRun jumped 7.2% and First Solar gained 6.2% after the US Treasury Department unveiled new tax subsidy rules for solar and wind projects.

 

Also Read | 116 stocks hit 52-week lows, 156 stocks at 52-week high today

Bullion

Gold prices rose on Monday, buoyed by easing US Treasury yields.

At 09:56 AM ET (1355 GMT), spot gold was 0.1% higher at $3,383.20 per ounce. US gold futures for December delivery added 0.2% to $3,388.80.

Among other metals, spot silver rose 0.2% at $38.07 per ounce, while platinum fell 0.5% to $1,328.40.

Spot palladium gained 0.3% to $1,115.68.

Crude Oil-india-share-price-nse-bse-s0003223″ data-vars-anchor-text=”Oil”>Oil

Oil prices were steady on Monday as investors awaited talks between the US and Ukrainian presidents after an inconclusive US-Russia summit in Alaska on Friday

Brent crude futures rose 9 cents, or 0.14%, to $65.94 a barrel by 1300 GMT. US West Texas Intermediate crude was up 7 cents, or 0.11%, at $62.87.

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