US Markets LIVE: Dow Jones & Nasdaq Composite Index 14 Aug 2023
US Markets LIVE, 14 Aug 2023: The US stock market indexes opened marginally lower on Monday, as investors are looking ahead to the big retailers’ earnings and retail sales data on Tuesday. Dow Jones opened slightly lower by 7.51 points at the 35273.89 level while S&P 500 also made a negative opening of 5.92 points at the 4458.13 level. The tech-heavy Nasdaq Composite made a lower opening of 45.85 points at the 13599 level.
US Markets Live Today
At 12 EDT, The US stock market indexes pared early losses and are trading higher. Dow Jones is trading slightly higher by 18.70 points or 0.05 percent at the 35300.10 level while S&P 500 is also trading higher by 18.33 points or 0.41 percent at the 4482.38 level. The tech-heavy Nasdaq Composite erased early losses and is trading on a strong note, up by 94.20 points or 0.69 percent at 13739.05 levels.
US Market News
The US stock market indexes pared early losses and turned positive in the late morning, as investors are optimistic ahead of some big retailer’s earnings and retail sales data for July, which could throw some light on the health of American consumers.
On Tuesday morning, the retail sales data for July will be released. Investors are eagerly waiting for the quarterly earnings from big retailers like Home Depot’s quarterly results on Tuesday, Target’s quarterly results on Wednesday, and Walmart’s earnings on Thursday.
The share price of Tesla fell over 2% at the opening after the company announced price reductions for certain Models in China. The China-made Tesla cars sales have dropped by 31% MoM basis in July, the first decline since December. The share price of Nikola declined around 10% after the company recalls electric trucks.
The yields on the US Benchmarks 10-year-old Treasury note climbed in early trade to 4.215% from 4.154% closed on Friday. Stock market sentiments improved, as the yields on Treasury note is currently trading at 4.162%
Crude Oil
The crude oil prices are trading marginally lower on Monday due to concern about China’s economic slowdown as well as the strong dollar. Meanwhile, experts feel that crude oil is in the overbought zone and some corrections are expected. However, OPEC+ has indicated that it would do whatever it takes to tighten supply and stabilize markets.
The last Friday’s U.S.PPI inflation data pushed the dollar to climb to a five-week high, which hurts demand for crude, as it makes the commodity more expensive for international buyers. The US Crude WTI is trading lower by 0.60% at $82.70 per barrel while London-based Brent is trading at $86.31 per barrel down by 0.58%.
US Markets at Close
The US stock markets erased early losses and closed higher on Monday. Dow closed slightly higher by 0.07 percent while S&P 500 and tech-heavy Nasdaq gained 0.58 percent and 1.05 percent respectively, as weakness in banking stocks offset the renewed demand in tech stocks. Nvidia shares rallied 7% and other tech stocks also gained as investors bet on recently beaten-down stocks.
Also, read Stock Market Prediction Next Week (14- 18 Aug 2023)
Global Stock Market Weekly Analysis: Mixed Closures and Inflation Focus
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