Wall Street Retreats as Traders Await Economic Data for Policy Cues

Wall Street Retreats as Traders Await Economic Data for Policy Cues
A Wall Street sign is pictured outside the New York Stock Exchange in New York on Oct. 28, 2013. (Carlo Allegri/Reuters)
Reuters
12/4/2023
Updated:
12/4/2023
0:00

Wall Street’s main indexes opened lower on Monday as investors turned wary ahead of a slew of economic data this week that is likely to test the narrative about a cut in interest rates by the Federal Reserve early next year.

The Dow Jones Industrial Average fell 156.12 points, or 0.43 percent, at the open, to 36,089.38. The S&P 500 opened lower by 30.26 points, or 0.66 percent, at 4,564.37, while the Nasdaq Composite dropped 136.37 points, or 0.95 percent, to 14,168.66 at the opening bell.