NEW YORK: Wall Street stocks mostly fell on Monday ahead of major earnings and economic reports that will shed new light on the hit from coronavirus shutdowns on business conditions and jobs.The broad-based S&P 500 shed 28.19 points to 2,761.63, while the tech-rich Nasdaq Composite Index added 38.85 points at 8,192.43.
The reports will be among the first to show the effects of the near-overnight shutdown on much of the US economy in an effort to limit the spread of the coronavirus. Shares of some large banks fell more than three percent as investors also gird for a negative hit from persistently lower interest rates.
Petroleum-linked shares were mixed as investors assessed a massive agreement by OPEC and other oil producers to slash production in the wake of the economic hit from the coronavirus.
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US: Stocks open lower ahead of key earnings, economic data[NEW YORK] Wall Street stocks retreated in early trading Monday ahead of key earnings reports from banks and other companies that will highlight the implications of shutdowns imposed to counter the coronavirus. Read more at The Business Times.
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