US open: Stocks slip amid higher yields, rising oil prices

(Sharecast News) - Major indices headed south early on Tuesday after major indices delivered a weak finish to August in the previous session.

As of 1520 BST, the Dow Jones Industrial Average was down 0.19% at 53,083.43, while the S&P 500 shed 0.45% to 7,651.39 and the Nasdaq Composite came out of the gate 0.89% weaker at 26,163.03.

The Dow opened 102.47 points lower on Tuesday, extending losses recorded in the previous session as higher oil prices and bond yields dampened sentiment following US strikes on two Iranian rocket launchers on Larak Island, adding to geopolitical tensions and fuelling concerns over further rate pressure.

Global borrowing costs coninued to tick on Tuesday up as investors assessed the renewed hostilities in the Middle East and the prospect of tighter policy across major economies. The yield on the benchmark US 10year Treasury note rose to 4.784% early on Tuesday, its highest level since early 2025.

Oil prices also advanced again, with Brent crude up 2.41% at $92.67 a barrel and West Texas Intermediate gaining 3.17% to $88.48 a barrel, as traders weighed the risk of supply disruption. Donald Trump threatened further strikes on Iran on Monday after both countries exchanged direct attacks over the weekend, escalating a conflict that had recently shifted toward economic pressure.

On the macro front, US factory activity continued to expand in August, with both the Institute for Supply Management and S&P Global manufacturing PMIs signalling further growth even as demand, output and supplychain conditions showed signs of cooling. The ISM's manufacturing PMI eased to 54.6 in August, down from 55.6 in July, but still marking an eighth straight month of growth, while S&P Global said its August manufacturing PMI held steady at 53.9, signalling another month of solid expansion even as demand and output growth softened amid persistent supply pressures.

Elsewhere, US job openings were little changed in July, holding at 7.3m, according to the latest JOLTS report from the Bureau of Labor Statistics. Hires and total separations also steadied at 5.1m, with quits at 3.1m and layoffs and discharges at 1.7m, both broadly unchanged on the month. Openings remained stable at a 4.4% rate, with durable goods manufacturing the standout riser, adding 76,000 vacancies. The BLS also issued revisions for June, trimming job openings by 177,000 to 7.2m, hires by 16,000 to 5.3m, and total separations by 14,000 to 5.3m. Quits were revised down 19,000, while layoffs and discharges were revised up by the same amount.

In the corporate space, Palo Alto Networks and Dell Technologies were both slated to report earnings after the close.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Unitedhealth Group Inc. (UNH) $396.87 1.97%

Apple Inc. (AAPL) $321.98 1.88%

Procter & Gamble Co. (PG) $147.73 1.80%

Chevron Corp. (CVX) $209.74 1.34%

Merck & Co. Inc. (MRK) $150.11 1.31%

Verizon Communications Inc. (VZ) $50.63 1.20%

Amgen Inc. (AMGN) $434.69 1.13%

Johnson & Johnson (JNJ) $269.01 0.90%

Coca-Cola Co. (KO) $89.18 0.53%

Walt Disney Co. (DIS) $107.82 0.29%

Dow Jones - Fallers

Intel Corp. (INTC) $86.48 -3.68%

Caterpillar Inc. (CAT) $779.70 -1.97%

Nike Inc. (NKE) $38.29 -1.96%

Home Depot Inc. (HD) $322.75 -1.57%

Goldman Sachs Group Inc. (GS) $1,014.66 -1.30%

International Business Machines Corporation (CDI) (IBM) $231.09 -1.27%

Microsoft Corp. (MSFT) $503.42 -1.14%

Dow Chemical Co. (DOW) $30.25 -0.92%

Cisco Systems Inc. (CSCO) $109.50 -0.90%

American Express Co. (AXP) $328.24 -0.71%

S&P 500 - Risers

Regeneron Pharmaceuticals Inc. (REGN) $812.22 3.72%

CenturyLink Inc. (LUMN) $6.45 2.96%

CVS Health Corp (CVS) $96.88 2.94%

Helmerich & Payne Inc. (HP) $45.26 2.70%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $542.31 2.69%

Gilead Sciences Inc. (GILD) $147.95 2.62%

Vertex Pharmaceuticals Inc. (VRTX) $548.67 2.48%

Centene Corp. (CNC) $65.90 2.46%

Humana Inc. (HUM) $391.75 2.36%

Apartment Investment & Management Co. (AIV) $2.56 2.19%

S&P 500 - Fallers

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

Expedia Group Inc. (EXPE) $310.08 -4.89%

Analog Devices Inc. (ADI) $349.95 -4.35%

Applied Materials Inc. (AMAT) $442.18 -4.11%

Intel Corp. (INTC) $86.48 -3.68%

KLA-Tencor Corp. (KLAC) $169.21 -3.54%

Equity Residential (EQR) $63.66 -3.50%

Oracle Corp. (ORCL) $143.62 -3.49%

Intuit Inc. (INTU) $350.80 -3.48%

Charter Communications Inc. (CHTR) $147.35 -3.39%

Nasdaq 100 - Risers

Regeneron Pharmaceuticals Inc. (REGN) $812.10 3.72%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $541.89 2.69%

Gilead Sciences Inc. (GILD) $147.84 2.62%

Vertex Pharmaceuticals Inc. (VRTX) $548.60 2.48%

Align Technology Inc. (ALGN) $158.05 2.03%

Apple Inc. (AAPL) $322.28 1.88%

Tesla Inc (TSLA) $358.64 1.64%

J.B. Hunt Transport Services Inc. (JBHT) $264.01 1.58%

Dollar Tree Inc (DLTR) $129.65 1.35%

Kraft Heinz Co. (KHC) $26.16 1.28%

Nasdaq 100 - Fallers

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

Expedia Group Inc. (EXPE) $309.73 -4.89%

Analog Devices Inc. (ADI) $349.98 -4.35%

Applied Materials Inc. (AMAT) $442.74 -4.11%

Intel Corp. (INTC) $86.66 -3.68%

KLA-Tencor Corp. (KLAC) $169.47 -3.54%

Intuit Inc. (INTU) $351.12 -3.48%

Charter Communications Inc. (CHTR) $146.82 -3.39%

Cadence Design Systems Inc. (CDNS) $328.40 -3.32%

Microchip Technology Inc. (MCHP) $70.92 -3.31%