Wall Street opens slightly lower as Nasdaq 100 drops 0.65%

US stocks opened lower on Friday, November 13, with the technology-heavy Nasdaq 100 weaker than the broader market. At 9:45 a.m. in New York, the S&P 500 stood at 7583.59, down 0.12%.

What happened

The S&P 500 was down 8.81 points from its previous close of 7592.4. The Nasdaq 100 traded at 28106.72, a drop of 182.47 points, or 0.65%, from 28289.19.

The CBOE Volatility Index, Wall Street's main gauge of expected stock swings, stood at 18.8. That is up 0.1 points, or 0.53%, from the previous close of 18.7. The move in volatility was small, in line with the modest decline in the broad index.

The session began after a key inflation release. The US Producer Price Index, which tracks prices received by producers, rose 0.3% month on month in October. The estimate was 0.4%. The previous reading was 1.4%, so the monthly pace slowed sharply from the earlier figure.

Why it matters

The producer price report is a high-impact release on the economic calendar. It gives an early view of cost pressures that can feed into consumer prices and corporate margins. The October figure of 0.3% came in below the 0.4% estimate and well below the 1.4% of the prior period.

The split between the two indexes is notable. The S&P 500 was down 0.12%, while the Nasdaq 100 was down 0.65%. This shows that the weakness in the opening minutes was concentrated in the large technology and growth names that dominate the Nasdaq 100, rather than spread evenly across the market.

For investors, the early readings show a market that is slightly lower and not in stress. The VIX at 18.8 is close to its previous level, and the producer price data is one input among several for how markets assess inflation.

What to watch next

The session is still in its early phase, so the opening moves can still change. Market participants will follow whether the Nasdaq 100 narrows or widens its loss against the S&P 500 as trading volume builds through the morning.

The VIX is another reference. A move well away from 18.8 would show a change in how much price swing the options market expects. For now, the index has moved only 0.1 points from the prior close.

Further inflation and economic data, along with company news, will shape direction in the coming sessions. The October producer price reading of 0.3% will be compared with later releases to judge whether the slowdown from 1.4% continues.