US open: Stocks mixed as traders return from Thanksgiving break

(Sharecast News) - Wall Street trading got off to a mixed start on Monday following last week's Thanksgiving break. As of 1545 GMT, the Dow Jones Industrial Average was down 0.22% at 44,811.67, while the S&P 500 advanced 0.21% to 6,044.84 and the Nasdaq Composite came out the gate 0.94% firmer at 19,399.28.

The Dow opened 98.98 points weaker on Monday, taking a bite out of gains recorded in the previous session.

Monday's primary focus was the Institute for Supply Management's manufacturing purchasing managers index, which increased to 48.4 in November, up from 46.5 in October and ahead of forecasts of 47.5. New orders increased for the first month in seven in November, while price pressures eased and production, employment and inventories contracted less than in previous months.

"Demand remains weak, as companies prepare plans for 2025 with the benefit of the election cycle ending. Production execution eased in November, consistent with demand sluggishness and weak backlogs. Suppliers continue to have capacity, with lead times improving but some product shortages reappearing", said Timothy Fiore of the ISM.

Elsewhere on the macro front, S&P Global's manufacturing was upwardly revised to 49.7 in November from a preliminary reading of 48.8 and October's print of 48.5. The rate of decline in new orders slowed sharply, while increased confidence around the future encouraged US firms to take on additional staff.

On another note, US construction spending rose by 0.4% month-on-month in October, according to the Census Bureau, rising to a seasonally adjusted annual rate of $2.17trn, following a 0.1% increase in September and ahead of expectations of 0.2% advance. On an annualised basis, construction spending was up 5%.

In the corporate space, Intel shares were in the green after chief executive Pat Gelsinger stood down from the role, while Stellantis shares were in the red following the immediate exit of CEO Carlos Tavares.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Boeing Co. (BA) $158.78 4.19% Intel Corp. (INTC) $24.75 2.91% Microsoft Corp. (MSFT) $428.93 1.29% Apple Inc. (AAPL) $239.75 1.02% Walmart Inc. (WMT) $92.79 0.99% Cisco Systems Inc. (CSCO) $59.52 0.52% Salesforce.Com Inc. (CRM) $331.23 0.37% 3M Co. (MMM) $132.93 0.34% Visa Inc. (V) $315.20 0.16% Goldman Sachs Group Inc. (GS) $605.99 0.09%

Dow Jones - Fallers

Merck & Co. Inc. (MRK) $100.89 -2.17% Amgen Inc. (AMGN) $277.76 -1.81% JP Morgan Chase & Co. (JPM) $245.74 -1.62% Verizon Communications Inc. (VZ) $43.66 -1.62% Dow Chemical Co. (DOW) $43.92 -1.60% Coca-Cola Co. (KO) $63.54 -1.37% McDonald's Corp. (MCD) $291.34 -1.27% Unitedhealth Group Inc. (UNH) $601.57 -1.12% Chevron Corp. (CVX) $160.51 -0.99% Travelers Company Inc. (TRV) $264.12 -0.95%

S&P 500 - Risers

Gap Inc. (GAP) $25.70 6.11% Kohls Corp. (KSS) $15.51 5.12% Ralph Lauren Corp (RL) $233.29 4.77% Bath & Body Works, Inc. (BBWI) $37.58 4.69% Tapestry Inc. (TPR) $63.67 4.51% Nektar Therapeutics (NKTR) $1.19 4.39% Macy's Inc. (M) $16.65 4.32% Carnival Corp. (CCL) $26.23 4.32% Boeing Co. (BA) $158.78 4.19% Norwegian Cruise Line Holdings Ltd (NCLH) $28.02 4.10%

S&P 500 - Fallers

Advance Auto Parts (AAP) $42.26 -4.91% Dominion Energy Inc. (D) $57.44 -3.79% Edison International (EIX) $85.47 -3.27% Consolidated Edison Inc. (ED) $98.31 -3.22% Ventas Inc. (VTR) $62.56 -3.07% FedEx Corp. (FDX) $294.19 -3.03% Edwards Lifesciences Corp. (EW) $69.95 -2.94% CMS Energy Corp. (CMS) $68.52 -2.79% CenturyLink Inc. (LUMN) $7.17 -2.71% Rollins Inc. (ROL) $49.81 -2.63%

Nasdaq 100 - Risers

Lam Research Corp. (LRCX) $76.78 3.93% Tesla Inc (TSLA) $357.08 3.45% Intel Corp. (INTC) $24.75 2.91% Seagate Technology Plc (STX) $103.84 2.48% Meta Platforms Inc. (META) $588.50 2.47% Applied Materials Inc. (AMAT) $178.66 2.26% Amazon.Com Inc. (AMZN) $212.54 2.24% Broadcom Inc. (AVGO) $165.67 2.21% Wynn Resorts Ltd. (WYNN) $96.24 1.97% QUALCOMM Inc. (QCOM) $161.16 1.66%

Nasdaq 100 - Fallers

Qurate Retail Inc. (QRTEA) $0.44 -6.80% Starbucks Corp. (SBUX) $100.01 -2.39% CSX Corp. (CSX) $35.88 -1.85% Amgen Inc. (AMGN) $277.76 -1.81% Hologic Inc. (HOLX) $78.21 -1.62% Incyte Corp. (INCY) $73.40 -1.59% eBay Inc. (EBAY) $62.42 -1.37% Kraft Heinz Co. (KHC) $31.53 -1.36% Cintas Corp. (CTAS) $223.16 -1.16% T-Mobile Us, Inc. (TMUS) $244.17 -1.12%