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New York, July 1 (EFE).- Wall Street opened mixed this Tuesday, weighed down by Tesla shares after U.S. President Donald Trump suggested that the Department of Governmental Efficiency (DOGE) should investigate government subsidies granted to the companies of its CEO Elon Musk.
Ten minutes after the bell, the Dow Jones remained virtually flat, rising a slight 0.03%, to 44,106 points; while the S&P 500 fell 0.23%, to 6,190 units, and the Nasdaq retreated 0.42%, to stand at 20,284 integers.
Trump lashed out at Musk again this morning on Truth Social: "Elon may receive more subsidies than any human in history, by far, and without subsidies, Elon would probably have to close shop and go back home to South Africa."
The previous day, Musk warned Republican lawmakers that they "will lose their primaries next year" if they support the president's mega-budget and tax cut bill, which is intended to be ratified this week.
Musk stepped down at the end of May as efficiency chief in the White House amid disagreements with Trump over that bill, which the Tesla and SpaceX executive believes will increase U.S. public debt.
At the opening, the automaker's shares fell 7.27% on the stock exchange.
On the other hand, investors remain watchful of trade negotiations between the U.S. and Canada, after the latter withdrew its intention for new taxes on large U.S. tech companies.
Last Friday, Trump broke off trade negotiations with the neighboring country after reproaching them for the tax, until he managed to change Ottawa's mind.
This day, Federal Reserve Chairman Jerome Powell will speak at a European Central Bank forum, held in Portugal.
Powell indicated last week that he expects monetary authorities to hold monetary policies in abeyance until more details of the effects of Trump's tariff measures are known.
Among the 30 Dow Jones stocks, Caterpillar (-0.93%), Nvidia (-0.91%) and Salesforce (-0.68%) stood out for their falls, compared to the gains of Nike (1.71%); Coca-Cola (1.19%) and Walmart (1.06%).
In the commodities market, the price of West Texas Intermediate (WTI) opened with a rise of 1.11%, to $65.83 a barrel.
