Stocks open slightly lower a day after the Dow pierces 22K, with most sectors trading modestly in the red, as investors digest an avalanche of earnings last night and this morning; Dow -0.1%, S&P and Nasdaq -0.2%.
"After the markets reach such a big milestone, it's typical to see [a] technical consolidation," says Charles Schwab's Randy Frederick, adding that he expects "some sideways motion ahead of the jobs report tomorrow, with markets flat or even slightly down."
European markets are mostly higher after the Bank of England kept its key interest rate and asset purchase program unchanged, with U.K.'s FTSE +0.8% and France's CAC +0.6% but Germany's DAX -0.1%; in Asia, Japan's Nikkei finished -0.2% and China's Shanghai Composite closed -0.3%.
In U.S. corporate news, Tesla +5.7% in early trading after beating both top and bottom line estimates and announcing that its Model 3 production is on track; on the flip side, Yum! Brands -1% despite reporting above-consensus earnings and revenues.
The financial sector (-0.5%) shows relative weakness at the open, while consumer staples (+0.2%) is among early gainers.
U.S. Treasury prices are higher, with the benchmark 10-year yield 3 bps lower at 2.24%.
U.S. crude oil +0.2% at $49.71/bbl.
Still ahead: factory orders, PMI services index, ISM non-manufacturing index, EIA natural gas inventory
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