US open: Wall Street bounces back

(Sharecast News) - Wall Street's main market indices were moving moderately higher at the start of a busy week for corporate earnings, economic data and central bank meetings. As of 1524 GMT, the Dow Jones Industrials was climbing 0.87% to 32,700.38, alongside a 0.48% rise for the S&P 500 to 4,137.19.

Helping to lift sentiment, front-dated West Texas Intermediate crude oil futures were falling 3.17% to $82.85 a barrel on the ICE.

In parallel, the yield on the benchmark 10-year U.S. Treasury note was trading five basis points higher to 4.888%.

On a downbeat note nevertheless, Morgan Stanley strategist Michael Wilson penned a research note to clients in which he argued that the "fundamental setup" heading into year end was different than normal.

"More specifically, as our economists believe, while the Federal Reserve may be done hiking for now, it is a long way from easing. Furthermore, Fed tightening over the past 18 months is just now starting to be felt across the economy," Wilson said.

The strategist reiterated his firm's year-end target level for the S&P 500 of 3,900 points.

Mc.Donald's shares were adding 2% after the fast-food chain posted third quarter earnings per share of $3.17 (FactSet: $3.0).

Western Digital shares meanwhile ran up 6% after the disk drive manufacturer announced plans to split itself into two companies.

Pinterest, VF Corporation and Transocean were to publish results after markets close.

Dow Jones - Risers

Verizon Communications Inc. (VZ) $34.42 2.92% Nike Inc. (NKE) $100.57 2.65% Goldman Sachs Group Inc. (GS) $297.55 2.64% McDonald's Corp. (MCD) $260.14 1.71% Microsoft Corp. (MSFT) $334.85 1.53% Travelers Company Inc. (TRV) $163.10 1.51% 3M Co. (MMM) $88.58 1.21% Salesforce.Com Inc. (CRM) $198.83 1.15% Apple Inc. (AAPL) $170.06 1.09% Caterpillar Inc. (CAT) $241.12 1.07%

Dow Jones - Fallers

Walgreens Boots Alliance, Inc. (WBA) $20.85 -1.37% Intel Corp. (INTC) $35.40 -0.39% Cisco Systems Inc. (CSCO) $51.39 -0.33% Dow Chemical Co. (DOW) $48.08 -0.06% Dowdupont Inc. (DWDP) $0.00 0.00% Chevron Corp. (CVX) $144.61 0.18% Unitedhealth Group Inc. (UNH) $526.03 0.26% Walmart Inc. (WMT) $161.65 0.30% Merck & Co. Inc. (MRK) $103.15 0.32% Procter & Gamble Co. (PG) $147.79 0.43%

S&P 500 - Risers

Western Digital Corp. (WDC) $41.59 6.72% CenturyLink Inc. (LUMN) $1.40 5.27% Foot Locker Inc. (FL) $20.44 4.31% AbbVie Inc (ABBV) $144.70 4.15% Adobe Systems Inc. (ADBE) $526.03 3.53% Charter Communications Inc. (CHTR) $384.61 3.39% Under Armour, Inc. (UA) $6.36 3.17% Under Armour Inc. Class A (UAA) $6.78 3.12% Verizon Communications Inc. (VZ) $34.42 2.92% Bath & Body Works, Inc. (BBWI) $29.09 2.83%

S&P 500 - Fallers

Revvity, Inc. (RVTY) $80.76 -17.48% Realty Income Corp. (O) $45.29 -7.56% Mettler Toledo International (MTD) $930.93 -4.64% Albemarle Corp. (ALB) $128.64 -4.31% Align Technology Inc. (ALGN) $182.75 -4.29% Healthpeak Properties, Inc (PEAK) $15.72 -4.26% Illumina Inc. (ILMN) $104.85 -4.01% Nektar Therapeutics (NKTR) $0.46 -3.97% Waters Corp. (WAT) $235.41 -3.82% Agilent Technologies Inc. (A) $98.93 -3.73%

Nasdaq 100 - Risers

Western Digital Corp. (WDC) $41.59 6.72% Adobe Systems Inc. (ADBE) $526.03 3.53% Charter Communications Inc. (CHTR) $384.61 3.39% Netflix Inc. (NFLX) $408.36 2.64% Qurate Retail Inc. (QRTEA) $0.43 2.62% Amazon.Com Inc. (AMZN) $131.01 2.56% Meta Platforms Inc. (META) $304.00 2.45% Mercadolibre Inc. (MELI) $1,228.73 2.36% Expedia Group Inc. (EXPE) $95.16 2.23% Liberty Global plc Series C (LBTYK) $16.82 2.19%

Nasdaq 100 - Fallers

Align Technology Inc. (ALGN) $182.75 -4.29% Illumina Inc. (ILMN) $104.85 -4.01% Tesla Inc (TSLA) $199.29 -3.86% Take-Two Interactive Software Inc. (TTWO) $130.63 -2.83% Microchip Technology Inc. (MCHP) $70.39 -2.59% Skyworks Solutions Inc. (SWKS) $86.15 -2.36% Analog Devices Inc. (ADI) $156.85 -2.31% DENTSPLY Sirona Inc. (XRAY) $29.91 -2.25% Incyte Corp. (INCY) $51.43 -2.11% Texas Instruments Inc (TXN) $140.32 -1.96%