Markets Right Now: US stocks open slightly lower


The Dow Jones average, which plunged 425 points yesterday to close at 24,024, was expected to open at around 23,929, setting it up for its fifth losing session in a row.

The S&P 500 index rose 4 points, or 0.2 percent, to 2,639. The tire company's quarterly profit was down more than 50% as a result of weak demand and the high cost of raw materials.

Aerospace company Boeing topped Wall Street's estimates in the first quarter and raised its forecasts for the year.

The Dow rose 59 points, or 0.4 percent, to 24,083.

Investors also monitored rising interest rates, which tend to slow down economic growth by making it more expensive for people and companies to borrow money.

The S&P 500 index lost 8 points, or 0.3 percent, to 2,626. FB tumbled nearly 4% yesterday after higher expenses at Google parent Alphabet raised concerns about profitability for the tech titans.

The S&P 500 posted 13 new 52-week highs and 21 new lows; the Nasdaq Composite recorded 61 new highs and 90 new lows. Investors are now adjusting their positions to see how the economy responds to rising interest rates, what corporations will do with those earnings, and how higher levels of inflation affect the mix. It's been climbing because investors expect higher economic growth and inflation. Meanwhile, shares of Metro Bank are off 7.3% in London, pressured by concerns that the lender may need to raise more capital than expected this year.

In Asia, Japan's Nikkei ended the day down 0.3%.

Yemen rebels say strike kills senior official
The strike hit an isolated village in northwestern Yemen, where families had gathered to celebrate, late on Sunday. The three-year-old war pits the Shiite Houthis against a regional coalition of Sunni powers led by Saudi Arabia .

The Dow opened slightly higher on Wednesday, boosted by Boeing's 3.4 per cent jump after strong results, while the Nasdaq and S&P 500 were little changed as U.S. bond yields climbed above the 3 per cent level.

The dollar rose to 109.34 yen from 108.67 yen. The euro rose to $1.2237 from $1.2205.

US crude oil futures settled 1.4 per cent lower at $67.70 a barrel as concerns faded over the possibility that the United States might reinstate sanctions against Iran. It's up 33 percent over the last 12 months and trading at its highest price in more than three years.

The energy group fell 0.6 per cent as oil prices declined.

Wholesale gasoline fell 0.2 percent to $2.09 a gallon.

Gold fell 0.7 percent to $1,323.70 an ounce and silver sank 1.1 percent to $16.52 an ounce.

The Nasdaq is up 100.35 points, or 1.5 percent.

Oil rose above $75 a barrel to its highest level since November 2014, but then reversed course as U.S. President Donald Trump and French President Emmanuel Macron pledged to try to resolve U.S.