Wall Street opens mostly lower as tech lags

US stock indices opened the third session of the week mixed, with NASDAQ and S&P 500 losing ground as the tech sector led the decline, while Dow Jones inched up on energy gains as oil prices rose today. 

Earlier US data showed producer prices fell 0.1% in August, the first such decline in eight months, and compared to no change in July, while analysts expected a 0.2% increase, as core prices slipped 0.1%, also missing estimates of a 0.2% increase. 

Federal Reserve Governor Lael Brainard will speak about the economic outlook and monetary policy at the Detroit Economic Club Luncheon later today, while the Fed is scheduled to release the Beige Book, containing data upon which policymakers depend in their next policy meeting in late September. 

The Congressional Budget Office reported the US government deficit widened to $211 billion in August as interest rates on treasury bonds rose, and defense, social spending increased, with the total deficit for the first 11 months of the current financial year amounting to $895 billion, up $222 billion from the same period of last year. 

Otherwise, President Donald Trump indicated in earlier remarks that trade negotiations with Canada are going well, while taking a stricter stance with China on the trade issues still hanging between both sides.  

China said it'll ask the World Trade Organization for permission to sanction the US for violation of a ruling about dumping duties, while the New York Times reported that US administration is studying economic sanctions on Beijing for human rights violations. 

Increasing trade protectionism around the world continues to weigh on market sentiment, with US President Donald Trump threatening to impose additional tariffs on $267 billion worth of Chinese imports in addition to other planned tariffs on $200 billion. 

Stock Performance 

As of 02:16 GMT, Standard and Poor's 500 fell 0.15%, or 4.50 points to 2,883.39, while Dow Jones barely inched up 4.42 points for the day. 

Tech-heavy NASDAQ dropped 0.67%, or 53.15 points to 7,919.32.