S&P 500, Nasdaq Slide After Mixed Pharma Earnings; Economic Data in Focus

S&P 500, Nasdaq Slide After Mixed Pharma Earnings; Economic Data in Focus
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on June 22, 2023. Brendan McDermid/Reuters
Reuters
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The S&P 500 and the Nasdaq opened lower ahead of manufacturing and job openings data that could clear the air on a soft landing for the U.S. economy, while investors assessed mixed earnings from pharmaceutical heavyweights Merck and Pfizer.

The Dow Jones Industrial Average rose 26.46 points, or 0.07 percent, at the open to 35,585.99.

The S&P 500 opened lower by 10.13 points, or 0.22 percent, at 4,578.83, while the Nasdaq Composite dropped 71.09 points, or 0.50 percent, to 14,274.93 at the opening bell.