Investing.com - Wall Street was slightly higher on Monday, but weighed down by economic woes in Turkey.
The S&P 500 rose 2 points, or 0.10%, to 2,836.18 as of 9:42 AM ET (13:42 GMT), while the Dow increased 12 points, or 0.05%, to 25,326.10 and the tech-heavy Nasdaq Composite gained 17 points, or 0.23%, to 7,857.06.
The Turkish lira was slightly higher after Turkey’s central bank pledged to provide liquidity and cut reserve requirements for Turkish banks. The lira had fallen to fresh lows last week as the country’s diplomatic spat with the U.S. and Turkish President Tayyip Erdogan’s control over the economy spooked investors.
Bank stocks were weaker after the morning bell, as investors worry about their exposure to Turkey. Bank of America (NYSE:BAC) was down 0.32%, while JPMorgan (NYSE:JPM) dipped 0.07%.
Meanwhile, Netflix (NASDAQ:NFLX) was down 1.05% after news that its chief financial officer David Wells is stepping down, while Ford (NYSE:F) fell 1.23% and Harley-Davidson (NYSE:HOG) dipped 1.39%.
Elsewhere, Tesla (NASDAQ:TSLA) rose 1.27% after CEO Elon Musk said his comments last week about having funding to take the company private were based on ongoing talks with the Saudi Arabian sovereign wealth fund. Twitter (NYSE:TWTR) increased 1.03%, while Sysco (NYSE:SYY) surged 5.81% after its earnings came in higher than expected.
In Europe, stocks were down. Germany’s DAX fell 56 points, or 0.46%, while in France the CAC 40 increased 1 point, or 0.02%, and in London, the FTSE 100 was down 26 points, or 0.35%. Meanwhile, the pan-European Euro Stoxx 50 lost 11 points, or 0.34%, while Spain’s IBEX 35 slumped 80 points, or 0.84%.
In commodities, gold futures fell 0.88% to $1,208.30 a troy ounce, while crude oil futures decreased 0.56% to $67.25 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.15% to 96.05.