NEW YORK, Oct 10 — Wall Street stocks were mixed early today to kick off a heavy news week that includes major economic and earnings reports.
Significant releases this week include the latest US consumer price index data, as well as minutes from the September Federal Reserve meeting. Both will be analysed for their clues about future interest rate hikes in response to elevated inflation.
Markets are also looking ahead to the start of third-quarter earnings season, with releases from Delta Air Lines and JPMorgan Chase and other banks.
Rising costs are expected to dent results, with analysts now projecting the S&P 500 companies scored an earnings increase of 2.9 per cent per share, down from the 10.5 per cent that had been forecast in June, according to CFRA Research.
About 20 minutes into trading, the Dow Jones Industrial Average was up 0.4 per cent at 29,419.91.
The broad-based S&P 500 added 0.1 per cent at 3,642.37, while the tech-rich Nasdaq Composite Index declined 0.3 per cent to 10,619.73.
Rivian Automotive fell 6.5 per cent as it ordered a voluntary emergency recall of most of its vehicles due to a problem with the steering system. — AFP
