Stocks Begin Holiday Week Mixed

Stocks opened mixed today after China cut interest rates and Toyota predicted its first loss in 71 years, the Wall Street Journal reports. Toyota’s US shares dropped 3% after its bleak forecast, and General Motors (16%) and Ford (7%) both fell. The Dow ticked up after the bell but was recently down 40 points. The Nasdaq was off about 1.4%, the S&P down about 1%.

China cut its one-year lending rate by 0.27%, to 5.31%, and its deposit rates by the same amount to 2.25% in “part of the ongoing process from governments to stimulate and re-liquefy global economies,” a London analyst told Bloomberg. Investors may grow bolder, seeking year-end deals as the day continues with no economic data to be released. (More Wall Street stories.)