US open: Dow reverses Friday's losses at the open

9th Sep 2024 14:49

(Sharecast News) - Wall Street stocks were in the green early on Monday as major indices tried to right the ship after a brutal first week of September trading.

As of 1515 BST, the Dow Jones Industrial Average was up 1.04% at 40,765.40, while the S&P 500 advanced 1.06% to 5,465.66 and the Nasdaq Composite came out the gate 1.35% firmer at 16,916.83.

The Dow opened 419.99 points higher on Monday, erasing losses recorded in the previous session as market participants digested July's all-important nonfarm jobs report, which revealed nonfarm payrolls grew by just 142,000, missing the 161,000 gain expected by economists.

As far as the new week was concerned, investors will look ahead to two key inflation reports that could further influence the Federal Reserve's thinking ahead of its open market committee meeting later in the month, with August consumer and producer price reports slated for release on Wednesday and Thursday morning, respectively.

On the macro front for Monday, US wholesale inventories rose 0.2% month-on-month to $903.5bn in July, according to the Census Bureau, slightly below preliminary estimates for a 0.3% increase and following June's flat reading. Non-durable stocks gained 0.5%, while durable goods grew 0.1%. Year-on-year, wholesale inventories grew by 0.4%, down from the advance estimate of 0.6%.

Still to come, July consumer credit change numbers will be published at 2000 BST.

In the corporate space, while second-quarter earnings season has now largely ended, software giant Oracle will report earnings after the close on Monday, while Petco, Dave & Busters, GameStop, Kroger and Adobe will all report earnings before the week is out.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Boeing Co. (BA) $163.02 3.43%

American Express Co. (AXP) $249.57 2.26%

Goldman Sachs Group Inc. (GS) $489.33 2.03%

Salesforce.Com Inc. (CRM) $248.88 2.01%

Verizon Communications Inc. (VZ) $41.88 1.77%

JP Morgan Chase & Co. (JPM) $216.12 1.72%

Visa Inc. (V) $284.08 1.69%

Caterpillar Inc. (CAT) $334.54 1.57%

Intel Corp. (INTC) $19.15 1.39%

Microsoft Corp. (MSFT) $406.89 1.29%

Dow Jones - Fallers

Merck & Co. Inc. (MRK) $115.48 -2.00%

Unitedhealth Group Inc. (UNH) $585.11 -1.97%

Apple Inc. (AAPL) $219.00 -0.82%

McDonald's Corp. (MCD) $289.15 -0.12%

Procter & Gamble Co. (PG) $175.46 -0.07%

Dowdupont Inc. (DWDP) $0.00 0.00%

Cisco Systems Inc. (CSCO) $48.60 0.21%

Home Depot Inc. (HD) $362.06 0.56%

Walmart Inc. (WMT) $77.07 0.56%

Chevron Corp. (CVX) $139.56 0.72%

S&P 500 - Risers

United Airlines Holdings Inc (UAL) $47.84 3.98%

Boeing Co. (BA) $163.02 3.43%

Norwegian Cruise Line Holdings Ltd (NCLH) $17.50 3.24%

Gen Dynamics Corp. (GD) $301.96 3.14%

Align Technology Inc. (ALGN) $228.05 3.12%

Delta Airlines Inc. (DAL) $43.32 3.07%

Arista Networks Inc. (ANET) $323.53 2.93%

Nektar Therapeutics (NKTR) $1.15 2.68%

Huntington Bancshares Inc. (HBAN) $14.69 2.62%

Alaska Air Group Inc. (ALK) $38.54 2.53%

S&P 500 - Fallers

CenturyLink Inc. (LUMN) $5.52 -5.48%

Humana Inc. (HUM) $344.67 -3.69%

CVS Health Corp (CVS) $56.07 -2.91%

Nordstrom Inc. (JWN) $22.21 -2.67%

Simon Property Group Inc. (SPG) $160.21 -2.60%

Merck & Co. Inc. (MRK) $115.48 -2.00%

Take-Two Interactive Software Inc. (TTWO) $153.50 -1.99%

Unitedhealth Group Inc. (UNH) $585.11 -1.97%

Macerich Co (MAC) $15.06 -1.89%

Leggett & Platt Inc. (LEG) $11.42 -1.72%

Nasdaq 100 - Risers

Align Technology Inc. (ALGN) $228.05 3.12%

Monster Beverage Corp (MNST) $49.88 2.52%

Netflix Inc. (NFLX) $681.87 2.42%

Idexx Laboratories Inc. (IDXX) $483.66 2.39%

Tesla Inc (TSLA) $215.70 2.36%

American Airlines Group (AAL) $11.05 2.27%

Nvidia Corp. (NVDA) $105.06 2.16%

Meta Platforms Inc. (META) $510.82 2.11%

Amazon.Com Inc. (AMZN) $175.00 2.11%

Fastenal Co. (FAST) $67.27 2.09%

Nasdaq 100 - Fallers

Take-Two Interactive Software Inc. (TTWO) $153.50 -1.99%

JD.com, Inc. (JD) $25.74 -1.29%

Apple Inc. (AAPL) $219.00 -0.82%

Trip.com Group Limited (TCOM) $47.23 -0.69%

Biogen Inc (BIIB) $199.83 -0.49%

Workday, Inc. (WDAY) $253.60 -0.39%

Comcast Corp. (CMCSA) $39.47 -0.37%

Liberty Global plc Series C (LBTYK) $20.24 -0.34%

Henry Schein Inc. (HSIC) $68.60 -0.31%

Micron Technology Inc. (MU) $86.19 -0.22%