NEW YORK: Wall Street stocks dipped early Monday as markets grappled with higher oil prices and looked ahead to key US inflation data and earnings.
Crude oil prices moved higher early Monday, the anniversary of the Hamas attack on Israel as Israel said it launched a “targeted” strike in a southern Beirut suburb that the military described as a key Hezbollah stronghold.
Markets are also monitoring the ongoing response to Hurricane Helene in North Carolina and neighboring states, as well as a fast-intensifying Hurricane Milton expected to slam Florida later this week.
About 15 minutes into trading, the Dow Jones Industrial Average was down 0.3 percent at 42,209.88.
Wall Street Week Ahead: Investors look to earnings to support record-high stock prices
The broad-based S&P 500 shed 0.4 percent to 5,730.60, while the tech-rich Nasdaq Composite Index declined 0.5 percent to 18,055.70.
Major US indices eked out gains last week following strong September jobs data.
This week’s calendar includes the consumer price index report for September, as well as the first batch of third-quarter corporate earnings.
Among individual companies, Chevron rose 1.1 percent as it announced a $6.5 billion sale of Canadian assets to Canadian Natural Resources Limited.
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