Thu, 16 Sep 2021

U.S. stocks open lower with earnings in focus

Xinhua
28 Jul 2021, 11:18 GMT+10

NEW YORK, July 27 (Xinhua) -- U.S. stocks slipped on Tuesday morning as investors looked to earnings reports from big tech names.

Shortly after the opening bell, the Dow Jones Industrial Average fell 222.68 points, or 0.63 percent, to 34,921.63. The S&P 500 decreased 21.07 points, or 0.48 percent, to 4,401.23. The Nasdaq Composite Index was down 48.92 points, or 0.33 percent, to 14,791.79.

All 11 primary S&P 500 sectors pulled back in morning trading, with energy down 1.8 percent, leading the losses.

Tesla shares came under pressure despite its better-than-expected quarterly report. The U.S. electric vehicle maker said Monday that it earned 11.96 billion U.S. dollars in total revenues in the second quarter of fiscal 2021, up 98 percent over the previous year.

Other tech giants including Apple, Google-parent Alphabet and Microsoft are set to report after Tuesday's close.

Investors are also keeping a close eye on the Federal Reserve as the U.S. central bank kicks off its two-day meeting on Tuesday, followed by a policy announcement and a news conference by Fed Chair Jerome Powell on Wednesday.

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