Wall Street today: US equities slip ahead of job openings data

US equities slipped on Tuesday ahead of job openings data and a report on the manufacturing sector.

As of 10:10 am Eastern time, the Dow Jones Industrial Average was down 0.8 per cent, the S&P 500 lost 1.1 per cent, and the Nasdaq Composite was 1.6 per cent lower.

At the opening bell, the Dow Jones Industrial Average fell 67.2 points, or 0.16 per cent, to 42262.97. The S&P 500 fell 4.7 points, or 0.08 per cent, to 5757.73, while the Nasdaq Composite dropped 34.2 points, or 0.19 per cent, to 18154.939.

The US government will release an update on how many job openings employers were advertising at the end of August.

Shares of Nike edged down 0.3 per cent ahead of the company’s quarterly earnings report due later in the day.

In a major development related to shipping industry, around 45,000 dockworkers at East and Gulf Coast ports started a strike on Tuesday after the International Longshoremen’s Association and shipping companies failed to reach a deal on a new contract.

The dockworkers are asking for a labor contract that doesn’t allow automation to take their jobs, among other things.

The strike could impact the supply chains and drive up the inflation.

In the bond market, the yield on the 10-year Treasury eased to 3.71 per cent from 3.79 per cent late on Monday.

Spot gold was up 0.6 per cent at $2,649.59 per ounce, as of 1057 GMT. US gold futures edged 0.4 per cent higher to $2,671.

Spot silver was up 0.7 per cent at $31.37 per ounce.

Brent traded near $71 a barrel after ending Monday modestly higher.

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