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Wall Street Starts the Week Lower as Tesla Slumps; Economic Reports Looming

Wall Street experienced a sluggish start on Monday with Tesla's shares pulling down major indexes, as investors look forward to key economic reports and retail giants' quarterly figures.

Wall Street sign
Wall Street sign

Tesla's Drag on Wall Street

Wall Street's main indexes opened lower on Monday, with shares of Tesla (NASDAQ: TSLA) being among the top drags. Investors are also keenly awaiting quarterly reports from U.S. retail giants and economic data later in the week to gauge the strength of consumer spending.

S&P 500 and Nasdaq Composite's Initial Performance

The S&P 500 started the day lower by 5.92 points, or 0.13%, at 4,458.13, while the Nasdaq Composite dropped 45.85 points, or 0.34%, to 13,599.00 at the opening bell.

Minor Drop in the Dow Jones Industrial Average

The Dow Jones Industrial Average also experienced a decline, albeit a minor one, falling 7.51 points, or 0.02%, at the open to 35,273.89. This dip aligns with the overall downtrend observed across other major indices on Wall Street.