Stock Market Today: Stocks Open Weak on Trade Jitters, Boeing, PPI

Updated 9:55 a.m. ET

Stocks open lower; Boeing slumps, Oracle stronger

Stocks opened lower on Thursday after President Trump said late Wednesday he planned to impose unilateral tariffs on dozens of trading partners in the coming weeks.

But the administration wants more deals now and expects to send letters to more than 150 countries saying, essentially, make trade offers or see new tariffs imposed.

The market was also weakened by a 4.4% decline to $204.53 in shares of Boeing  (BA)  after an Air India 787 Dreamliner crashed in India. 

Airline stocks were generally lower.

Oracle  (ORCL)  was up more than 10% to $195.30 after the database-software and cloud-services company logged higher-than-expected quarterly revenue and earnings. 

It said it expected "dramatically higher" revenue growth in the financial year that started recently.  

Shares of Gamestop  (GME)  were down 17% to $23.73 after the gaming retailer said it wanted to raise $1.75 billion in a note offering to invest in bitcoin. 

At 9:55 a.m. ET, the Standard & 500 Index was down 3 points to 6,020. The Nasdaq Composite Index was off 15 points to 19,601. The Dow Jones Industrial Average was off 149 points to 42,717. Much of the decline was due to Boeing. 

Crude oil was lower. The 10-year Treasury yield was at 4.82%, down from Wednesday's 4.427%.

Stocks Face Weak Open on Trade Jitters, Boeing, PPI

Stocks were facing a weak open after President Trump said late Wednesday he planned to impose unilateral tariffs on dozens of trading partners in the coming weeks.

Speaking to reporters at the Kennedy Center, he said the U.S. was very happy about its trade truce reset with China. But the administration wants more deals now and expects to send letters to more than 150 countries saying, essentially, make trade offers or see new tariffs imposed.