The Dow Jones opened down 0.1%, the S&P 500 down 0.3%, and the Nasdaq down 0.4%.

The rare earth sector is strengthening, with Trump planning to establish a $12 billion rare earth reserve. USA Rare Earth rose 7.7%, Critical Metals rose 6.5%, and MP Materials rose 2.7%. Oracle rose 2.6%, falling 5% before the market opened, with Fitch giving it a "BBB" rating on its senior notes. Nvidia fell 1.7%, shelving its investment plan for OpenAI. Disney fell 4.8%, with Q4 profits declining due to the drag from its film and television business.