Stock Market Today: Wall Street Opens Mixed After Its Latest Winning Week
Wall Street opens mixed today following its latest winning week, with investors weighing economic data and corporate earnings reports.
Wall Street pointed toward modest gains early Monday, keeping markets around record levels after the Dow Jones Industrial Average closed above 40,000 for the first time ever last week.
Markets did appear to be shaken by news of the death of Iranian President Ebrahim Raisi and other officials who died in a helicopter crash in the mountainous northwest reaches of Iran on Sunday.
Futures for the S&P 500 edged nearly 0.2% higher before the bell Monday, while futures for the Dow Jones Industrial Average rose less than 0.1%.
Investors this week will be taking in more retail earnings data as reporting season winds down. Lowe's, Target and TJX Cos. all report later this week. So will chipmaker Nvidia, whose shares are up 87% this year on soaring demand for its semiconductors, which are used to power artificial intelligence applications.
Red Lobster filed for Chapter 11 bankruptcy protection days after shuttering dozens of restaurants. Earlier this year, Red Lobster co-owner Thai Union Group, one of the world’s largest seafood suppliers, announced its intention to exit its minority investment in the dining chain.
The seafood restaurant has been struggling with rising lease and labor costs in recent years and promotions like its all-you-can-eat shrimp deal that backfired.
On Wednesday, the Federal Reserve released minutes from its most recent meeting, when it left its main lending rate alone for the sixth straight time.
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