On Monday, Wall Street opened in the red, with the Dow Jones Industrial Average, its leading indicator, down by 0.16%.

Ten minutes after the market opened, the Dow Jones stood at 39,412 points, and the S&P 500 index was down by 0.25%, at 5,221 points.

The Nasdaq Composite Index, where major technology companies are listed, was down by 0.50%, at 16,347 units.

The main indices recently reached new record highs last week, driven by the latest statements from the Federal Reserve (Fed), which kept interest rates steady but also opened the door to three rate cuts before the end of the year.

Investors are awaiting the release of the Personal Consumption Expenditures Price Index for February this Friday, a key data point that also serves as a guide for Fed monetary policy.

In corporate news, this morning highlighted the announcement that Boeing’s CEO, Dave Calhoun, will step down from his position at the end of this year, a departure that comes after the crisis opened at the company due to an incident aboard an Alaska Airlines flight last January.

In early trading, the company’s shares were up by 1.29%.

In terms of sectors, the biggest gains were seen in the energy sector (1.4%) and utilities (0.29%), while the biggest losses were in the technology (-0.98%) and communication (-0.96%) sectors.

Among the 30 Dow Jones components, Walt Disney (2.4%) and Chevron (1.33%) led the gains, while Intel (-4.15%) and Apple (-1.38%) experienced the largest losses

Meanwhile, in its weekend research, Goldman Sachs predicts an increase in S&P 500 stock buybacks in 2024 and 2025, as solid balance sheet companies continue to reward shareholders through buybacks.