US shares open mainly lower as AI issues dent tech sector
(Il Sole 24 Ore Radiocor) - Milano, 28 apr - US shares opened mainly lower as AI-related stocks slid and investors tracked developments in the Gulf.
With oil jitters mounting, the White House said US officials were looking at a new proposal tabled by Iran to reopen the Strait of Hormuz, the narrow waterway that handled roughly a fifth of global energy flows before the conflict.
Reports said president Donald Trump was not satisfied with the proposal which also calls on Washington to lift its naval blockade and defer talks on Tehran-s nuclear program.
Over the weekend, Trump scrapped plans to send US envoys to Pakistan to try and break the deadlock in peace talks.
Oil prices rose around 3% with US crude touching 100 dollars a barrel.
On the stocks front, semiconductor shares fell back, impacted by a report that OpenAI missed internal revenue and user targets. Nvidia was down 2.8% in early trade.
Shares in Coca Cola were up 5% in premarket trade after it topped estimates and raised its outlook while Spotify fell more than 13% after disappointing on operating income outlook.
Just after the opening bell the Dow Jones was up 109.01 points, or 0.22%, at 49,276.80 points, the S&P 500 was down 40.17 points, or 0.56%, at 7,133.74, while the Nasdaq was.
down 283.94 points, or 1.14%, at 24,603.16.
(RADIOCOR) 28-04-26 15:45:38 (0563) 5 NNNN