Wall Street Opens Flat to Lower as Economic Fears Persist; Dow Down 15 Pts By Investing.com
By Geoffrey Smith
Investing.com — U.S. stock markets opened mixed on Wednesday, struggling to make any real headway after falling in the previous session amid fears for the strength of the U.S. and global economies.
Weaker-than-expected economic data for August out of China, where growth in both retail sales growth and industrial production slowed sharply, continued to weigh on sentiment, offsetting any relief at the sight of Democratic lawmakers watering down some of their tax hike plans.
By 9:35 AM ET (1335 GMT), the was down 15 points, or less than 0.1%, at 34,563 points. The and the were both flat.
Microsoft (NASDAQ:) stock stood out from the generally lackluster backdrop, rising 1.4% after the software giant announced a new $60 billion buyback program and raised its quarterly dividend by 11%.
Elsewhere,Wynn Resorts stock (NASDAQ:) fell sharply for a second straight day, down 8.1% on concerns that new regulations of casinos in Macau – which accounts for over one-third of Wynn’s revenue – will stunt its business in China.
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