Mon, 17 May 2021

U.S. stocks open lower after solid week

20 Apr 2021, 02:05 GMT+10

NEW YORK, April 19 (Xinhua) -- U.S. stocks opened lower on Monday, giving up some of the gains they scored in the prior week.

Shortly after the opening bell, the Dow Jones Industrial Average fell 142.79 points, or 0.42 percent, to 34,057.88. The S&P 500 lost 8.15 points, or 0.19 percent, to 4,177.32. The Nasdaq Composite Index decreased 20.74 points, or 0.15 percent, to 14,031.60.

Eight of the 11 primary S&P 500 sectors pulled back in morning trading, with utilities and real estate both down around 0.5 percent, leading the laggards. Energy rose 0.66 percent, the best-performing group.

Beverages giant Coca-Cola reported earnings and revenue that exceeded analysts' expectations. The stock climbed modestly on Monday morning.

For the week ending Friday, the Dow added 1.2 percent, the S&P 500 gained 1.4 percent, and the Nasdaq Composite advanced 1.1 percent. The 30-stock gauge and S&P 500 booked their fourth straight positive week, while the Nasdaq rose for three weeks in a row.

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