US open: Stocks higher as Dow Jones builds on record close

(Sharecast News) - Major indices were in the green at the open on Tuesday following the Dow Jones' fresh record close.

As of 1515 BST, the Dow Jones Industrial Average was up 0.14% at 52,255.49, while the S&P 500 advanced 0.41% to 7,471.00 and the Nasdaq Composite came out of the gate 0.80% at 26,026.35.

The Dow opened 72.75 points higher on Tuesday, extending gains recorded in the previous session.

Major indices looked set to wrap up the first half with another winning session after stocks rallied on Monday thanks to the announcement of a pause in hostilities betweem the US and Iran.

On the macro front, US homeprice growth remained subdued in April, according to the latest S&P Cotality CaseShiller data, with the national index rising 0.8% yearonyear, barely above March's 0.7% pace. Nicholas Godec of S&P Dow Jones Indices said inflation running at 3.8% meant values had now fallen in real terms for an 11th straight month, continuing the erosion of inflationadjusted housing wealth. Godec said geographic dispersion remained marked, with the Midwest and Northeast still showing moderate gains while many Sun Belt and Western metropolitan markets posted declines. Monthly movements showed typical spring strength on a nonseasonally adjusted basis, with the national index up 0.8%, and the 10City and 20City composites rising 1.1% and 1.0%, respectively. After seasonal adjustment, however, the national index slipped 0.1%, while the 20City composite was essentially flat.

Elsewhere, the Chicago Business Barometer jumped 13.5 points to 62.7 in May, according to the Institute for Supply Management, returning to expansionary territory after dipping below the neutral 50 mark in April. The index now sits at its highest level since January 2022 and recorded the joint secondlargest monthly increase since the survey began in 1967, with only July 2020 seeing a bigger rise. May's improvement was driven by stronger readings for new orders, production, order backlogs and supplier deliveries, while a decline in employment provided a small offset.

On another note, US job openings were unchanged at 7.6m in May, according to the Bureau of Labor Statistics, with hires also steady at 5.2m and total separations little changed at 5.1m. Within separations, quits held at 3.1m, while layoffs and discharges were unchanged at 1.7m. The jobopenings rate remained at 4.6%, with wholesale trade seeing a 71,000 increase, while the hires rate was stable at 3.3%, supported by an 11,000 rise in federalgovernment hiring. Total separations were unchanged at 3.2%, with little movement across industries. The quits rate held at 1.9%, with quits in the federal government up 4,000. Layoffs and discharges were steady at 1.1%, though arts, entertainment and recreation saw a 42,000 decline.

In the corporate space, Nike, Constellation Brands and Barnes & Noble will all report earnings after the close.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $134.92 9.13%

Cisco Systems Inc. (CSCO) $118.26 2.10%

Caterpillar Inc. (CAT) $1,054.78 1.53%

Boeing Co. (BA) $216.33 1.24%

3M Co. (MMM) $163.70 0.78%

American Express Co. (AXP) $343.27 0.72%

McDonald's Corp. (MCD) $268.52 0.49%

Amgen Inc. (AMGN) $360.67 0.16%

Dowdupont Inc. (DWDP) $0.00 0.00%

Walgreens Boots Alliance, Inc. (WBA) $0.00 0.00%

Dow Jones - Fallers

Verizon Communications Inc. (VZ) $42.96 -2.31%

Microsoft Corp. (MSFT) $372.35 -2.22%

Dow Chemical Co. (DOW) $27.51 -2.04%

Procter & Gamble Co. (PG) $145.63 -1.79%

Walt Disney Co. (DIS) $97.08 -1.49%

International Business Machines Corporation (CDI) (IBM) $276.15 -1.33%

Unitedhealth Group Inc. (UNH) $414.23 -1.25%

Salesforce.Com Inc. (CRM) $156.95 -1.19%

Coca-Cola Co. (KO) $81.63 -0.94%

Goldman Sachs Group Inc. (GS) $1,017.00 -0.63%

S&P 500 - Risers

KLA-Tencor Corp. (KLAC) $294.43 14.19%

Applied Materials Inc. (AMAT) $722.33 11.74%

Lam Research Corp. (LRCX) $434.24 10.80%

Western Digital Corp. (WDC) $655.71 10.11%

Air Products & Chemicals Inc. (APD) $294.50 9.40%

Intel Corp. (INTC) $134.92 9.15%

Seagate Technology Plc (STX) $972.02 9.05%

Nektar Therapeutics (NKTR) $69.00 8.27%

Albemarle Corp. (ALB) $134.14 5.02%

Micron Technology Inc. (MU) $1,141.18 4.97%

S&P 500 - Fallers

Coterra Energy Inc. (CTRA) $32.56 -8.62%

Zimmer Biomet Holdings Inc (ZBH) $84.75 -7.12%

Cognizant Technology Solutions Corp. (CTSH) $38.04 -6.73%

Copart Inc. (CPRT) $28.33 -5.88%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $450.84 -5.73%

Charter Communications Inc. (CHTR) $144.37 -5.54%

Stryker Corp. (SYK) $312.45 -5.15%

Digital Realty Trust (DLR) $180.79 -5.14%

Mosaic Company (MOS) $21.33 -5.04%

Sba Communications Corp. (SBAC) $175.17 -5.03%

Nasdaq 100 - Risers

KLA-Tencor Corp. (KLAC) $294.43 14.19%

Applied Materials Inc. (AMAT) $722.33 11.74%

Lam Research Corp. (LRCX) $434.24 10.80%

Western Digital Corp. (WDC) $655.71 10.11%

Intel Corp. (INTC) $134.92 9.31%

Seagate Technology Plc (STX) $972.02 9.05%

Asml Holdings N.V. (ASML) $1,959.07 7.61%

Tesla Inc (TSLA) $412.08 6.47%

Micron Technology Inc. (MU) $1,141.18 4.77%

Baidu Inc. (BIDU) $113.38 4.02%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Cognizant Technology Solutions Corp. (CTSH) $38.04 -6.73%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $450.84 -5.73%

Charter Communications Inc. (CHTR) $144.37 -5.54%

Idexx Laboratories Inc. (IDXX) $524.58 -4.93%

T-Mobile Us, Inc. (TMUS) $168.79 -4.87%

Align Technology Inc. (ALGN) $168.05 -4.58%

Vodafone Group Plc ADS (VOD) $13.26 -3.77%

Dollar Tree Inc (DLTR) $119.39 -3.68%

Intuit Inc. (INTU) $265.79 -3.67%