BUSINESS US stocks open slightly lower

BUSINESS

US stocks open slightly lower

Xinhua

22:56, September 29, 2020

NEW YORK, Sept. 29 (Xinhua) -- Wall Street's major averages opened modestly lower on Tuesday after a massive rally in the prior session, as investors were awaiting a U.S. presidential debate.

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File photo: AFP

Shortly after the opening bell, the Dow Jones Industrial Average lost 41.42 points, or 0.15 percent, to 27,542.64. The S&P 500 was down 3.28 points, or 0.10 percent, to 3,348.32. The Nasdaq Composite Index decreased 9.44 points, or 0.08 percent, to 11,108.08.

Of the 11 primary S&P 500 sectors, energy slid more than 1 percent in morning trading, leading the laggards. Utilities rose 0.4 percent, the best-performing group.

The first debate between President Donald Trump and his Democratic challenger, Joe Biden, scheduled for Tuesday night, is among the key focus on Wall Street this week.

Investors also paid close attention to the update of a fresh U.S. coronavirus aid package.

Democrats from the U.S. House of Representatives unveiled on Monday a 2.2-trillion-U.S.-dollar COVID-19 relief package, attempting to pressure the White House and Republicans to reach a deal before the presidential election in November.

U.S. equities closed sharply higher on Monday with the Dow jumping more than 400 points.


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