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U.S. stocks open lower as investors weigh Morgan Stanley earnings, housing-market data

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Christine Idzelis is a markets reporter at MarketWatch and is based in New York.

U.S. stocks opened lower Wednesday, as investors weighed third-quarter earnings including from Morgan Stanley. The Dow Jones Industrial Average DJIA, -0.25% was down 0.1% soon after the opening bell, while the S&P 500 SPX, -0.44% shed 0.4% and the Nasdaq Composite COMP, -0.60% dropped 0.7%, according to FactSet data, at last check.

Morgan Stanley’s third-quarter earnings fell in the third-quarter but beat Wall Street expectations. In economic news, construction of new homes in the U.S. rose 7% in September, according to a report Wednesday from the Census Bureau and Department of Housing and Urban Development. Federal Reserve officials are scheduled to speak on Wednesday, including Fed Gov. Chris Waller and New York Fed President John Williams around midday Eastern Time.

 

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