NEW YORK: Wall Street stocks opened the week on a cautious note on Tuesday, digesting recent gains following mixed earnings and economic data.
Shares of Goldman Sachs fell after it reported disappointing results while Morgan Stanley rallied after topping estimates in a muted reaction to the latest batch of results.
Elsewhere, China reported its lowest economic growth in decades but still topped analyst estimates, while German investor confidence soared in January.
After a dismal 2022, major US indices have begun 2023 strongly amid investor expectations that the Federal Reserve will soon retreat from its aggressive policy of hiking interest rates in response to inflation.
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About 25 minutes into trading, the Dow Jones Industrial Average was down 0.4 percent at 34,155.52.
The broad-based S&P 500 added 0.1 percent at 4,003.61, while the tech-rich Nasdaq Composite Index also climbed 0.1 percent to 11,088.02.
Tuesday marks the first session of the week after markets were closed for Monday’s Martin Luther King Jr. holiday.
This week’s calendar includes key housing data and retail sales for December.
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