US markets open lower ahead of PMI, Yellen hearing

Friday, 22. January 2021 15:32

Stock indexes in the United States started Friday's session in the red as the corporate earnings season gets underway. On Thursday, IBM revealed a 66% drop in net income in the fourth quarter of 2020. The IHS Markit report on the manufacturing and service sectors is expected after the opening bell. Meanwhile, US President Joe Biden's pick for Treasury secretary, Janet Yellen, is set to appear before the Senate in another hearing.

The Dow Jones started 0.57% lower, led by IBM, which was down by 8.60%. The S&P 500 lost 0.45% at 9:31 am ET, as EOG Resources Inc. fell by 2.39%. The Nasdaq 100 declined by 0.36% at the same time, with Intel Corp. dropping 5.56%.

The euro traded just 0.05% lower compared to the dollar, selling for 1.21627 at 9:34 am ET.

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