Wall Street inched lower early Monday following last week’s thrashing, the market’s worst stretch in 6 months.
Futures for the S&P 500 were off 0.3% and futures for the Dow Jones industrials ticked down 0.2% priorto the bell.
Worries over China’s residentialorcommercialproperty sector, a U.S. federalgovernment shutdown and the continued strike by American autoworkers were weighing on markets.
Media and homeentertainment business got a little increase from news that a tentative arrangement was reached Sunday to end a historical filmwriters strike after almost 5 months. No offer is yet in the works for striking stars.
Shares in Warner Bros. Discovery, Paramount, Disney and Netflix all increased about 2% or less.
Amazon revealed Monday that it is investing up to $4 billion in Anthropic and taking a minority stake in the synthetic intelligence start-up. It’s the mostcurrent Big Tech business to put cash into AI as they race to capitalize on the chances that the newest generation of the innovation is set to fuel. Amazon was up less than 1% priorto markets opened Monday.
On Friday, the S&P 500 slipped 0.2%, while the Dow Jones Industrial Average fell 0.3%. The Nasdaq composite dipped 0.1%. The retreat has deepened with Wall Street’s growing conviction that interest rates mostlikely won’t come down much anytime quickly.
The S&P is pointing to a 4th successive down week.
Yields in the bond market have climbedup to their greatest levels in more than a years. They’d been increasing for months and spedup this