U.S. stock indices on Monday: Dow Jones rose 0.06%
U.S. stock indices on Monday...
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U.S. stock indices on Monday: Dow Jones rose 0.06%

10 October 2022
2 min.
U.S. stock indices on Monday: Dow Jones rose 0.06%

Trading Starts

The U.S. stock indices at the beginning of trading on Monday are moving without uniform dynamics, Dow Jones is in a weak plus.

Thus, the Standard Poor's 500 Index was down 0.3 percent at 3,627.63 points by 10:58 a.m. ET.

The Nasdaq Composite was down 0.7 percent to 1,575.08 points since the market opened.

The Dow Jones Industrial Average was up 0.06% to 29315.66 points by 10:00 a.m. ET.

The trading activity on Monday may be lower than usual, as the bond market is not working in connection with the national holiday Columbus Day, as noted by experts.

Including the market completed a sharp decline in trading on Friday after the publication of data on the state of the U.S. labor market for September.

The number of jobs in the economy grew by 263,000 the smallest increase since April 2021. Experts on average expected growth of 250,000-255,000.

Experts believe that the upcoming corporate earnings season, which will enter an active phase on Friday, is unlikely to trigger a positive reaction from the US stock market. Profits of American companies whose shares are included in the calculation of the Standard and Poor's 500, on average, rose by 2.4% in the third quarter, analysts polled by FactSet forecast.

These are the weakest results since the third quarter of 2020, which saw the peak of the COVID-19 pandemic. At that time, profits fell an average of 5.7%, says a senior FactSet analyst.

Also this week, U.S. inflation data will be released.

The leaders of the Dow Jones Industrial Average are Merck and Co (NYSE: MRK) Inc. up 4.2%, Boeing Co (NYSE: BA) up 3.7%.

Tesla (NASDAQ: TSLA) gained 0.3 percent in early trading on Monday.

Rivian Automotive (NASDAQ: RIVN) collapsed nearly 8% on news that it is recalling nearly all of its manufactured cars to fix a defect in the steering.

Shares of Five9 Inc., fell 16.5%. Rowan Trollope, the company's chief executive, has resigned. Chairman Mike Berkland will take his place. The management changes will take effect Nov. 28.

PPG Industries worsened its third-quarter adjusted earnings outlook. The company's stock price is down 4.1%.

Apple Inc. (NASDAQ: AAPL) is down 0.9%, Microsoft (NASDAQ: MSFT) is down 1.3%, UnitedHealth Group (NYSE: UNH) is down 1% and Salesforce (NYSE: CRM) is down 1.5%.

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