Wall Street opens on a mixed footing

The main indices on Wall Street started Monday’s session on a mixed note as traders seemed unsure of which way to turn following the volatility of the previous week. Shortly after the opening bell, the Dow Jones Industrial Average was up 0.58% at 33,481 while the S&P 500 climbed 0.31% to 4,179. The Nasdaq was the outlier, falling 0.19% to 14,003. While the markets were mixed, an early riser was biopharma firm Gilead Sciences Inc (NASDAQ:GILD), which rose 0.4% to US$66.90 following data showing its coronavirus drug Veklury can reduce the risk of patient death. 7.50am: Wall Street set to rally After Friday’s wild ride – more of a plunge ride than a roller-coaster, US markets are expected to claw back some losses today. Spread betting quotes indicate the Dow Jones Industrial Average will open 174 points higher at 33,464; the S&P 500 14 points firmer at 4,180 and the Nasdaq 100 44 points better at 14,094. “The combination of a surprisingly-exciting Fed meeting and options expiry on Friday meant that many markets were dramatically shaken out of their complacency, with the Dow, gold and key FX pairs seeing sharp drops,” said Chris Beauchamp at IG. There is the potential for more Fed-inspired volatility today with Federal Reserve officials Robert Kaplan and James Bullard set to discuss the US economic outlook today. Four things to watch for on Monday: Companies in the earnings diary include electric vehicle infrastructure group ChargePoint Holdings Inc (NYSE:CHPT), Chinese used car retailer Uxin Ltd (NASDAQ:UXIN) and Uranium Energy Corp (NYSEAMERICAN:UEC) Shares in Apple Inc (NASDAQ:AAPL) could draw interest following news of a fresh antitrust probe from authorities in Germany There may also be interest in the upcoming IPO of cybersecurity firm SentinelOne Inc after it set the terms of the float that could see it valued at up to US$7.36bn. On the macro front, there is little happening, however some investors may be interested in the latest national activity index from the Chicago Fed