* Tiffany shares fall after CEO steps down
* Hasbro jumps after quarterly results beat expectations
* Indexes down: Dow 0.16 pct, S&P 0.22 pct, Nasdaq 0.26 pct
(Updates to open)
By Tanya Agrawal
Feb 6 U.S. stocks opened lower on Monday as
investors sought fresh catalysts after a strong jobs report last
week, while uncertainty over President Donald Trump's policies
continued to weigh.
Investors are wary about Trump's focus on isolationist
policies including travel restrictions to the United States. A
federal judge on Friday blocked a travel ban on seven mainly
"The market is looking for direction from the White House on
policy," said Albert Brenner, director of asset allocation
strategy at People's United Wealth Management in Bridgeport,
"When you see the markets pause, it signals investors are
becoming more rational and are waiting to see some concrete
evidence that drove the market higher after the election."
Markets rallied sharply after Trump's election victory in
November, riding on hopes that his plans including simpler
regulations, higher infrastructure spending and tax cuts will
boost the economy.
However, Goldman Sachs economist Alec Phillips said in a
note that Trump's agenda presents risks as tax cuts and
infrastructure funding may boost growth, but may be offset by
negative effects of restrictions on trade and immigration.
At 9:36 a.m. ET (1436 GMT) the Dow Jones industrial average
was down 32.04 points, or 0.16 percent, at 20,039.42.
The S&P 500 was down 5.23 points, or 0.22 percent, at
The Nasdaq Composite was down 14.51 points, or 0.26
percent, at 5,652.26.
Eight of the 11 major S&P sectors were lower, with the
materials index's 0.33 percent fall leading the
Microsoft's 0.7 percent fall weighed the most on
the S&P and the Nasdaq.
Oil was slightly lower but steadied around $57 per barrel as
rising tensions between the United States and Iran and OPEC
supply cuts were countered by ample inventories and signs that
higher prices will revive U.S. output.
Tiffany fell 2.9 percent to $78.52 as the upscale
jeweler said its CEO has stepped down after what the company
called disappointing financial results.
Hasbro jumped 15.2 percent to $95.20 after the
toymaker's quarterly results beat expectations.
Chipotle Mexican Grill was down 2.1 percent at
$396.57 after Barron's said the burrito chain's stock could fall
as much as 35 percent in the next year.
Declining issues outnumbered advancers on the NYSE by 1,503
to 1,080. On the Nasdaq, 1,437 issues fell and 830 advanced.
The S&P 500 index showed two new 52-week highs and one new
low, while the Nasdaq recorded 29 new highs and four new lows.
(Reporting by Tanya Agrawal in Bengaluru; Editing by Anil