US open: Stocks mixed as Disney gives Dow Jones an early boost
Wall Street trading got off to a mixed start early on Monday as Disney shares pushed the Dow Jones higher at the beginning of the holiday-shortened week.
As of 1455 GMT, the Dow Jones Industrial Average was up 0.12% at 33,784.71, while the S&P 500 lost 0.14% to 3,959.97 and the Nasdaq Composite came out the gate 0.24% weaker at 11,119.28.
The Dow opened 39.02 points higher on Monday, modestly extending gains recorded in the previous session.
Retail earnings will again be in focus this week, with Best Buy, Nordstrom, Dick's Sporting Goods, and Dollar Tree all set to report before the end of the week.
Markets will also likely be quiet towards the tail end of the week, with traders taking a break for Thanksgiving on Thursday. However, investors will likely keep a keen eye on Black Friday holiday shopping reports for any clues as to current consumer confidence levels.
On the macro front, the Chicago Federal Reserve's national activity index fell to -0.05 in October, the weakest reading in four months, down from an upwardly revised print of 0.17 in September, suggesting slower national economic growth.
In the corporate space, Disney shares traded higher after the group announced that Bob Iger was set to return as chief executive, with immediate effect, while Coinbase shares were in the red early on Monday as rival FTX's bankruptcy weighed on the stock.
Reporting by Iain Gilbert at Sharecast.com