Wall Street opens lower as AI stocks slide and oil rebounds
Wall Street's main indexes opened lower on Tuesday, pressured by renewed weakness in AI-linked stocks and a rebound in oil prices, as investors braced for major corporate earnings reports this week. The Dow slipped 0.01 per cent, the S&P 500 fell 0.15 per cent, and the Nasdaq dropped 0.37 per cent.
Wall Street's main indexes opened lower on Tuesday, dragged down by renewed weakness in AI-linked stocks and a rebound in oil prices, while investors braced for major corporate earnings reports this week.
The Dow Jones Industrial Average fell 6.8 points, or 0.01 per cent, to 51,959.21 at the open. The S&P 500 fell 11.7 points, or 0.15 per cent, to 7,679.01, while the Nasdaq Composite dropped 98.0 points, or 0.37 per cent, to 26,332.921.
The decline in AI-related shares continued a recent trend of volatility in the sector, which has been a key driver of market gains over the past year. The rebound in oil prices added further pressure on equities, as higher energy costs could weigh on corporate margins and consumer spending.
Investors are now turning their attention to a busy week of earnings reports from major companies, which could provide fresh clues on the health of corporate America and the broader economy. The results are expected to be closely watched for any signs of slowing demand or margin pressures.
Market participants are also assessing the outlook for interest rates, with recent economic data and remarks from Federal Reserve officials shaping expectations for the central bank's next policy moves. The combination of earnings, oil prices, and rate uncertainty is likely to keep trading volatile in the near term.