Stocks open mostly lower as investors return from Labor Day weekend
Tiger Newspress2021-09-07
(Sept 7) Stocks open mostly lower as investors return from Labor Day weekend.
The Dow dropped 77 points, dragged down by a 1.5% loss in Boeing’s stock. The S&P 500 fell 0.14%. The Nasdaq Composite rose slightly to notch a new intraday record. The NYSE was closed on Monday for Labor Day.
Goldman Sachs downgraded its economic outlookover the weekend, citing the delta variant and fading fiscal stimulus. Goldman now sees 5.7% annual growth in 2021, below the 6.2% consensus. The firm cut its fourth-quarter GDP outlook to 5.5%, down from 6.5%.
Some China concepts stocks rose in early trading.
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