Stocks Trade Mostly Lower On Wall Street

Stocks are drifting mostly lower in early trading on Wall Street as investors look ahead to another big week of earnings reports, this time from major technology companies including Facebook and Apple, the Associated Press (AP) reported.

Photo Insert: Traders are looking ahead to the financial reports of big tech firms.

The Dow Jones Industrial Average and the Nasdaq were down similar amounts. Major US indices are coming off three weeks of gains. Tesla rose 5% after Hertz said it would order 100,000 electric vehicles from the company.

European markets were mostly higher and Asian markets closed mostly higher. The yield on the 10-year Treasury note fell to 1.63%.

Global stock markets rose Monday after Wall Street slipped and China tightened travel controls in some areas in response to coronavirus infections. Shanghai and Hong Kong advanced while London and Frankfurt opened higher.

Tokyo declined. On Wall Street, futures for the S&P 500 index and the Dow Jones Industrial Average were 0.1% higher.

In Asia, the Shanghai Composite Index rose 0.8% to 3,609.86 while the Nikkei 225 in Tokyo lost 0.7% to 28,600.41. The Hang Seng in Hong Kong added less than 0.1% to 26,132.03.

The Kospi in Seoul advanced 0.5% to 3,020.54 and Sydney’s S&P-ASX 200 gained 0.3% to 7,441.00. India’s Sensex gained 0.3% to 61,019.36. New Zealand and Southeast Asian markets declined.

Wall Street’s S&P 500 lost 0.1% on Friday, weighed down by losses for tech companies after a seven-day streak of gains. The Dow gained 0.2% to a new high while the Nasdaq composite slid 0.8%.

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