NEW YORK: Wall Street stocks were little changed early Monday as markets awaited debt ceiling negotiations in Washington and key earnings and economic data.
President Joe Biden said Sunday he remains “optimistic” about finding an agreement with his Republican opponents to raise the US debt limit and avert a default. Talks are expected to resume Tuesday.
Traders are also looking ahead to April retail sales data, housing starts for the same period and quarterly earnings from Walmart and other big-box retailers.
Wall St Week Ahead-Amid banking woes, faltering US small-caps offer ominous economic sign
About 20 minutes into trading, the Dow Jones Industrial Average was down 0.3 percent at 33,206.43.
The broad-based S&P 500 dipped 0.1 percent to 4,119.68, while the tech-rich Nasdaq Composite Index added 0.1 percent at 12,300.92.
Among individual companies, Magellan Midstream Partners surged 12.7 percent after agreeing to be acquired by rival pipeline company Oneok for $18.8 billion, including debt.
US mining company Newmont gained 1.0 percent after agreeing to acquire Australian rival Newcrest in a deal worth Aus$28.8 billion (US$19 billion).
By swallowing up Newcrest, the US mining giant will cement its position as the world’s biggest gold producer, with operations extending across North and South America, Africa, Australia and Papua New Guinea.
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