Stock market today: Wall Street is off to downbeat start following two weeks of gains

NEW YORK — Stocks are off to a weak start on Wall Street as traders return from a long holiday weekend. The S&P 500 was off 0.3% in the early going Tuesday. The index is coming off its second weekly gain. The Dow slipped 63 points, or 0.2%, and the Nasdaq fell 0.3%. Markets are looking ahead to a quieter week with company earnings reports winding down and just a trickle of government economic reports expected, including data on manufacturing, layoffs and trade.

On Friday, the S&P 500 rose 0.2%, coming off its first monthly loss since February, as U.S. employment figures suggested the jobs market may be cooling. That fueled hopes that the Federal Reserve might moderate interest rate increases to tamp down inflation. Strong hiring and consumer spending have helped stave off a recession that analysts expected at some point in 2023. But they also make the central bank’s task of taming inflation more difficult by fueling wage and price increases.

This week, DocuSign, GameStop, Dave & Buster's and Kroger all report their most recent quarterly financial results. Corporate earnings this quarter have been nuanced, with many companies beating modest expectations while warning of slowing sales and profit in the coming quarters. China Vanke lost 1.1%, while Country Garden Holdings gave up 1%. Hong Kong-based Sun Hung Kai Properties shed 2%.

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