Investors remain watchful of U.S.-China trade developments, leading to a soft performance in U.S. stocks. The Dow Jones Industrial Average opened lower by 0.1% and subsequently dropped around 200 points or 0.5%. Meanwhile, the Nasdaq Composite rose 0.1% at the open but later fell approximately 40 points or 0.2%. The S&P 500 Index also declined by 0.3% to 5,466 points.
In earnings news, Alphabet (GOOGL) exceeded revenue expectations in the first quarter and announced an increased dividend, driving its stock up by 3% in early trading. On the other hand, Intel (INTC) issued a disappointing second-quarter forecast and announced cost cuts, resulting in its stock tumbling by over 8%. T-Mobile (TMUS) reported better-than-expected first-quarter results, yet its stock dropped 9%.
Among technology stocks, Tesla (TSLA) and Meta (META) rose by over 1%, while Nvidia (NVDA) gained less than 1%. Apple (AAPL, Financial) and Microsoft (MSFT) experienced slight declines.
