DJIA down 0.15% (Il Sole 24 Ore Radiocor) - New York, 08 May - US shares opened lower as investors digested the latest round of earnings and braced for more Fed talk.

Comments yesterday from Minneapolis Federal Reserve president Neel Kashkari that the central bank would need to hold borrowing costs steady for 'an extended period and possibly all year' weighed on sentiment as investors continue to fret over monetary policy.

Stubborn inflation has prompted the Fed to put back the timetable for rate cuts and prompted traders to recalculate their expectations for the number of cuts this year.

The market will be watching out for remarks today from Fed vice chair Philip Jefferson, Boston Fed president Susan Collins and Fed governor Lisa Cook, all scheduled to attend events.

On the earnings front Uber and Shopify both fell after disappointing results with Uber down 9% in early trade.

Airbnb and Arm Holdings will update after the closing bell.

With nearly 90% of S&P 500 companies having already reported, earnings are up about 4% on the year, according to FactSet.

On the stocks front shares in Reddit jumped 6.5% after the social media company beat revenue forecasts while ride-hailing firm Lyft was up 6.7% after encouraging results.

DoubleVerify slumped 40% after the advertising data-software group forecast slower growth this year.

Just after the opening bell the Dow Jones was down 59.02 points, or 0.15%, at 38,825.24, the S&P 500 was down 20.77 points, or 0.40%, at 5,166.93 while the Nasdaq was down 100.91 points, or 0.62%, at 16,231.65.

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(RADIOCOR) 08-05-24 15:39:36 (0512) 5 NNNN