US Market Opening: The US market fell in early trading on Monday as investors awaited the results of inflation data this week.
As the market opened, the 30-stock Dow Jones Industrial Average slid 58 points, or 0.2 per cent. While the S&P 500 also lost 0.02%, the Nasdaq Composite pulled back 0.2 per cent in early trading.
Investors are eagerly awaiting April’s consumer price index, which will be released on Wednesday. The data will follow the producer price index on Thursday.
The previous week has been volatile after the Dow Jones Industrial Average and the S&P 500 saw their worst weekly stretches since March.
Though the regional bank stocks recovered late in the week, but it was too less to lift the market to profits.
On Monday, while the market was down, bank shares were up.
Among bank stocks, PacWest outperformed as it soared 28 per cent following the bank’s decision to cut its dividend.
Giants like JPMorgan Chase, Citigroup, Morgan Stanley, and Wells Fargo also rose.
Among other shares, Disney also saw a rise of a little above 2.3 per cent in early trading.
The company’s stocks are rising ahead of the release of its quarterly results on Wednesday.
Berkshire Hathway Class A shares were also on the upswing with a 1 per cent rise, two days after the company reported its first-quarter results.
The company clocked a rise of 12 per cent in its operating earnings in the first quarter with a cash hoard of $130 billion.
The annual meeting of Berkshire Hathway in Omaha, Nebraska, on Saturday, drew global attention since Buffet discussed topics like the latest banking crisis during it.
