US stocks mixed ahead of July 4 holiday
In this Friday, June 28, 2013 photo, trader Robert Vella, left, works on the floor of the New York Stock Exchange. U.S. stocks are getting off to a slow start after a three-day rally. U.S. stock futures are rising with industry watchers expecting automakers to post banner sales. The government also releases its May factory orders report Tuesday, July 2, 2013, and economists are looking for signs of an extended recovery in manufacturing. (AP Photo/Richard Drew)
NEW YORK CITY — US stocks Tuesday opened mixed as investors looked ahead to a holiday-shortened week capped with Friday’s big labor market report.
Five minutes into trade, the Dow Jones Industrial Average was down 17.48 (0.12 percent) to 14,957.48.
The broad-based S&P 500 edged 0.14 (0.01 percent) higher to 1,615.10, while the tech-rich Nasdaq Composite Index increased 1.00 (0.03 percent) to 3,435.49.
The muted opening followed moderate gains Monday supported by solid manufacturing sector data in the US and Europe.
Some analysts were predicting a quiet day of trading in light of the US Independence Day holiday Thursday, with a shortened session slated for Wednesday.
“The vacation factor can be cited as another reason for the lack of conviction,” said Briefing.com analyst Patrick O’Hare.
“Also, there isn’t much news of note to respond to in the early going.”
However, markets will be busy Friday assessing the June nonfarm payroll figures, typically the most influential monthly US economic report.
