Wall Street Opens Lower as Early Rate Cut Hopes Fade; Walmart Perks Up

Wall Street Opens Lower as Early Rate Cut Hopes Fade; Walmart Perks Up
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City on Feb. 7, 2024. (Brendan McDermid/Reuters)
Reuters
2/20/2024
Updated:
2/20/2024
0:00

Wall Street’s main indexes opened lower on Tuesday as dwindling hopes for early interest rate cuts weighed on investor sentiment even as Walmart kicked off the earnings season for U.S. retailers on an upbeat note.

The Dow Jones Industrial Average fell 51.73 points, or 0.13 percent, at the open to 38,576.26.

The S&P 500 opened lower by 16.25 points, or 0.32 percent, at 4,989.32, while the Nasdaq Composite dropped 95.81 points, or 0.61 percent, to 15,679.84 at the opening bell.