US open: Stocks mixed as traders digest CPI reading, ceasefire tensions

(Sharecast News) - Wall Street trading got off to a mixed start on Friday as market participants continued to assess the US and Iran's already fragile two-week ceasefire agreement and thumbed over all-important inflation figures. As of 1440 BST, the Dow Jones Industrial Average was down 0.27% at 48,057,87, while the S&P 500 advaned 0.13% to 6,833.58 and the Nasdaq Composite came out of the gate 0.51% firmer at 22,939.92.

The Dow opened 127.93 points lower on Friday, taking a bite out of gains recorded in the previous session.

Donald Trump agreed to extend his deadline for Iran to reopen the Strait of Hormuz by a further two weeks on Tuesday evening, after the five‑week conflict in the Middle East led to the closure of the key shipping route. Trump also warned Iran not to charge fees to oil tankers travelling through the Strait of Hormuz, writing "they better not be and, if they are, they better stop now".

However, Iran's parliamentary speaker Mohammad Bagher Ghalibaf said Israel's continued strikes in Lebanon amounted to a breach of the ceasefire agreement between Washington and Tehran. Israeli prime minister Benjamin Netanyahu later said he was prepared to begin talks with Lebanon "as soon as possible".

On the macro front, US inflation surged in March as the conflict involving the US, Israel and Iran pushed prices sharply higher, according to the Bureau of Labor Statistics, with the consumer price index rising 0.9% month-on-month and 3.3% year-on-year. March's increase marked the strongest monthly increase in almost two years and offered the first clear indication of how the closure of the Strait of Hormuz has fed through to US consumer prices. Core CPI, which strips out volatile food and energy costs, rose a more modest 0.2% in March and was 2.6% higher than at the same time a year earlier. Energy costs shot up 10.9% in March, driven by a 21.2% jump in gasoline prices, which made up the bulk of the overall monthly increase. Airfares were up 2.7% on the month and 14.9% year‑on‑year.

Still to come, February factory orders and a preliminary reading of the University of Michigan's April consumer sentiment index will follow at 1500 BST.

No major corporate earnings were slated for release on Friday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $61.72 10.69% Amgen Inc. (AMGN) $355.60 3.81% Nike Inc. (NKE) $44.00 2.02% Caterpillar Inc. (CAT) $787.07 2.01% Cisco Systems Inc. (CSCO) $83.17 1.86% Apple Inc. (AAPL) $260.49 1.24% Procter & Gamble Co. (PG) $146.66 1.21% Coca-Cola Co. (KO) $78.18 1.15% Boeing Co. (BA) $220.06 1.04% Home Depot Inc. (HD) $339.58 1.02%

Dow Jones - Fallers

Dow Chemical Co. (DOW) $38.04 -3.16% Salesforce.Com Inc. (CRM) $170.85 -3.13% Microsoft Corp. (MSFT) $373.07 -2.04% International Business Machines Corporation (CDI) (IBM) $237.18 -1.89% Chevron Corp. (CVX) $190.36 -1.31% Verizon Communications Inc. (VZ) $47.78 -0.54% Merck & Co. Inc. (MRK) $122.68 -0.41% Goldman Sachs Group Inc. (GS) $903.72 -0.22% Visa Inc. (V) $308.29 -0.22%

S&P 500 - Risers

Brown Forman Corp. Class B (BF.B) $30.31 12.89% Intel Corp. (INTC) $61.72 10.69% Constellation Brands Inc. Class A (STZ) $163.07 8.47% Sba Communications Corp. (SBAC) $218.46 6.34% Harley-Davidson Inc. (HOG) $22.66 6.24% CenturyLink Inc. (LUMN) $7.48 5.50% Amazon.Com Inc. (AMZN) $233.65 5.16% Under Armour Inc. Class A (UAA) $6.27 4.67% Diamondback Energy Inc. (FANG) $186.31 4.55% Lam Research Corp. (LRCX) $258.76 4.54%

S&P 500 - Fallers

Intuit Inc. (INTU) $361.69 -10.42% Gen Digital Inc. (GEN) $18.37 -7.83% Autodesk Inc. (ADSK) $225.13 -7.16% Expedia Group Inc. (EXPE) $230.26 -6.87% Adobe Systems Inc. (ADBE) $229.94 -6.48% Illumina Inc. (ILMN) $123.67 -6.26% F5 Inc. (FFIV) $294.59 -6.12% Akamai Technologies Inc. (AKAM) $109.61 -6.03% Verisk Analytics Inc. (VRSK) $169.41 -5.88% Dollar Tree Inc (DLTR) $102.60 -5.88%

Nasdaq 100 - Risers

Intel Corp. (INTC) $61.72 10.69% Amazon.Com Inc. (AMZN) $233.65 5.16% Lam Research Corp. (LRCX) $258.76 4.54% Netflix Inc. (NFLX) $102.05 4.07% Meta Platforms Inc. (META) $628.39 4.02% Fastenal Co. (FAST) $49.10 3.98% Amgen Inc. (AMGN) $355.60 3.81% KLA-Tencor Corp. (KLAC) $1,727.26 3.73% Applied Materials Inc. (AMAT) $397.81 3.50% Texas Instruments Inc (TXN) $214.98 3.48%

Nasdaq 100 - Fallers

Workday, Inc. (WDAY) $113.06 -11.95% Intuit Inc. (INTU) $361.69 -10.42% Gen Digital Inc. (GEN) $18.37 -7.83% Autodesk Inc. (ADSK) $225.13 -7.16% Expedia Group Inc. (EXPE) $230.26 -6.87% Adobe Systems Inc. (ADBE) $229.94 -6.48% Illumina Inc. (ILMN) $123.67 -6.26% Check Point Software Technologies Ltd. (CHKP) $141.85 -5.96% Baidu Inc. (BIDU) $108.23 -5.94% Verisk Analytics Inc. (VRSK) $169.41 -5.88%