US opens mostly lower after downbeat sales data

Tuesday, 17. November 2020 15:30

After Monday's session, which saw two United States' market benchmarks closing at record-high, major stock market indexes in the country opened Tuesday's trading session mostly lower after the US Census Bureau reported more modest growth in retail and food services sales than what was expected for October.

Adding to the sentiment, World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus stated that the organization is "extremely concerned by the surge in [COVID-19] cases." Traders will also keep an eye on the speech that Federal Reserve Bank Chair Jerome Powell is scheduled to deliver later in the day.

The Dow Jones Industrial Average dropped 0.95% or 280 points as the session started as Walgreens Boots tumbled 8.21% at 9:33 am ET. The Nasdaq 100 was up by 0.16% at 9:30 am ET with Tesla Inc surging 11.5% two minutes in. At the opening bell, the S&P 500 dipped 0.60%. Walgreen Boots and Boston Scientific Corp. were the index's worst performers. The euro advanced 0.21% versus the dollar, selling for 1.18774 at 9:28 am ET.

Related Links: 
Author:
Breaking the News / BU