Connect with us

Hi, what are you looking for?


Wall Street Opens Lower, Consolidating After Monday Surge; Dow Down 50 Pts

Stock Markets29 minutes ago (Apr 06, 2021 09:44AM ET)

(C) Reuters.

By Geoffrey Smith — U.S. stock markets opened slightly lower on Tuesday, consolidating after their surge to new all-time highs on Monday on optimism about the economic recovery.

The market is still basking in the afterglow of the March employment report on Friday, which showed that employment in the key services sector roared back as states across the country started to relax their restrictions on businesses and on social gatherings. The survey showed that 916,000 jobs were created through mid-March, with February’s number also being revised up by nearly 80,000.

By 9:40 AM ET (1340 GMT), the Dow Jones Industrial Average was down 49 points, or 0.2%, at 33,478 points. The S&P 500 was down 0.1% and the Nasdaq Composite was essentially flat.

Sentiment was underpinned by a firm bond market, which was reassured about any potential inflationary threat by a clear slowdown in average weekly wages in the report. The slowdown was in large part due to the preponderance of lower-paid services workers rejoining the workforce. The 10-Year U.S. Treasury yield stayed resolutely below 1.70% in response, having traded as high as 1.77% in recent weeks.

Among individual stocks, there were few egregious moves. Tesla (NASDAQ:TSLA) stock fell 1.2% after the market’s enthusiasm for its quarterly deliveries number cooled a bit – even though it remained some 12% higher than its level before the numbers. Tesla had reported better-than-expected sales volumes for the three months through March at the weekend, but some fretted that the sales mix was skewed toward its lower margin Model 3 product.

Wall Street Opens Lower, Consolidating After Monday Surge; Dow Down 50 Pts

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt.


Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione.


Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum.


At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores.

Disclaimer: it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Buzz Clever. All Rights Reserved