US stocks open lower, extending pullback
Wall Street stocks fell early on Monday, extending a pullback as markets focused on elevated interest rates and the risk of a US government shutdown. "We are going through either a pullback... or what I would deem a mild correction," Sam Stovall of CFRA Research said of the recent weakness in stock markets, a shift from gains early in 2023. Stovall pointed to a mixture of "uncertainty, seasonality (and) valuation adjustments" as a drag, adding "I don't think this bull market is coming to an end." About 15 minutes into trading, the Dow Jones was down 0.3 percent at 33,872. The S&P 500 slipped 0.2 percent to 4,312, while the Nasdaq also lost 0.2 percent at 13,188. Markets are also fixated on an auto workers strike at Detroit's "Big Three" and at political manoeuvering on Capitol Hill that has boosted the odds of a government shutdown. Among individual companies, Boeing fell 0.6 percent despite announcing it reached an agreement to sell 18 Dreamliner 787-10 to Air Canada, with an option for another 12. This week's calendar includes reports on consumer confidence and personal consumption and pricing data seen as an important read on inflation. (AFP)