The US stock market is trading mixed in early morning trading on Monday, August 28, 2023. The Dow Jones Industrial Average is up 0.15%, the S&P 500 is up 0.20%, and the Nasdaq Composite is up 0.30%.
Some of the stocks that are moving higher include:
- Hasbro (HAS) is up 5.66% after the toy company reported stronger-than-expected earnings and revenue for the third quarter.
- Workday (WDAY) is up 5.38% after the software company reported better-than-expected earnings and revenue for the fiscal fourth quarter.
- Intuitive Surgical (ISRG) is up 4.17% after the medical device company reported stronger-than-expected earnings and revenue for the second quarter.
Some of the stocks that are moving lower include:
- Boeing (BA) is down 1.22% after the aerospace company reported weaker-than-expected earnings for the third quarter.
- Caterpillar (CAT) is down 1.11% after the construction equipment company reported weaker-than-expected earnings for the third quarter.
- UnitedHealth Group (UNH) is down 0.94% after the health insurance company reported weaker-than-expected earnings for the third quarter.
The overall market is being weighed down by concerns about the global economy. The Chinese economy is slowing down, and there are fears that the US economy could be headed for a recession.
Investors are also awaiting the release of US inflation data later this week. If inflation continues to rise, it could force the Federal Reserve to raise interest rates more aggressively, which could hurt economic growth.
Overall, the stock market is expected to remain volatile in the near term. Investors will be closely watching economic data and central bank policy decisions for clues about the direction of the market.
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