Live Markets: Wall Street, suffering a case of the Mondays, is mixed, muted
LIVE MARKETS-Wall Street, suffering a case of the Mondays, is mixed, muted Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
WALL STREET, SUFFERING A CASE OF THE MONDAYS, IS MIXED, MUTED
Wall Street is muted and mixed in the opening minutes of Monday's session, with the Nasdaq .IXIC roughly flat, while the S&P 500 .SPX and the Dow .DJI are slightly red.
Semiconductors are the clear outperformers, following a Reuters report on Friday that the pricing of soon-to-be-public AI company Anthropic will likely hinge on the company's 2028 revenue forecast between $190 billion to $200 billion, according to two people familiar with the company's financials.
The Philadelphia SE Semiconductor index .SOX is up nearly 2.0%.
Of note, the National Association of Home Builders' Housing Market Index unexpectedly printed at 35 vs. a 33 estimate. However, among underperformers are housing .HGX and homebuilders .SPCOMHOME.
New York regional manufacturing is going gangbusters, according to the New York Fed, whose Empire State manufacturing index shot up 5 points to notch its strongest reading since November 2021.
Middle East tensions threatened to go from simmer to boil after Iran vowed to go on the offensive in the Strait of Hormuz if diplomatic efforts fail.
Second-quarter earnings season has entered the final stretch, with fewer than 10% of the companies in the S&P 500 yet to report. So far, 85% of the reports showed better-than-expected results, and analysts now expect year-on-year S&P earnings growth of 51.6% for the April-June period, according to LSEG.
This week, some big retailers are expected to report, with Walmart WMT.N, Target TGT.N, Home Depot HD.N, and Lowe's LOW.N among the higher profile results, which could provide further insight regarding U.S. consumer health following Friday's grim Retail Sales report.
Here's where things stood at 9:53 a.m. ET:
(Stephen Culp)
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