Markets Right Now: Stocks open broadly lower on Wall Street

Markets Right Now: Stocks open broadly lower on Wall Street

The broad-based S&P 500 fell 0.6 per cent to 2,716.26, while the tech-rich Nasdaq Composite Index slipped 0.1 per cent to 7,234.31. The Nasdaq composite was positive, up 27 points to 7,727.

While still near four-year highs, yields have leveled off somewhat of late, as benchmark 10-year Treasury notes last fell 5/32 in price to yield 2.895 percent, from 2.877 percent late on Friday. The S&P 500 fell 0.1% and was trying to hold above the 50-day moving average.

NXP Semiconductor jumped 6 percent after Qualcomm raised its offer for the company to $127.50 a share, or $43.22 billion, from $110 a share. A Strategas Research Partners poll, conducted February 16, of about 500 institutional investors, showed 57 percent expect the S&P 500 Index to break the intraday low of 2,533 reached on February 9, while the rest say the market has bottomed for the year after a two-week selloff sent the index to its first 10 percent correction since 2016, Bloomberg reported. Shares are almost 6% below the entry and the break of the 50-day line should cause investors who bought near 100.23 to consider cutting losses short.

The S&P technology index .

Minutes from the Federal Reserve's January meeting on Wednesday will be at the center of this week's trade, eyed for more clues on the central bank's view on inflation and the pace of future interest rate increases.

The reported pulled other grocery retailers lower, with Target , off 2.8 percent and Kroger down 4.6 percent.

Snapchat operator Snap slid 5.4 percent after Citigroup downgraded the stock to "sell", arguing negative reviews on an app redesign might lead to a decline in users.

Commercial coal mining opened for private sector
India sits on the third-largest coal reserves in the world - enough to last for the next 400 years at current consumption levels. Bill 2015 - to bring transparency and accountability according to the Union government - was passed by the Parliament.

Home Depot rose almost 1.6 per cent after the largest US home improvement chain's quarterly profit beat market estimates for the sixth straight quarter.

The world's biggest retailer plunged 10.2% after reporting a 42.1% drop in fourth-quarter earnings to $2.2bn in results that revealed growing pains in the company's e-commerce buildout.

Declining issues outnumbered advancing ones on the NYSE by a 1.61-to-1 ratio; on Nasdaq, a 1.56-to-1 ratio favored decliners. Ross Stores dropped $2.19, or 2.7 percent, to $77.98.

The S&P technology index (.SPLRCT) gained 0.3 as the sole major S&P sector on the plus side, buoyed by a gain of almost 2 percent in the semiconductor sector (.SOX).

MARKETS OVERSEAS: Germany's DAX rose 0.8 percent, while France's CAC 40 gained 0.6 percent.

ENERGY: Benchmark U.S. crude fell 47 cents to $61.32 per barrel in electronic trading on the New York Mercantile Exchange.

The TSX posted three new 52-week highs and three new lows.

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