Wall Street stocks dropped in opening trade Tuesday as a report showing lower US durable goods orders in April launched a holiday-shortened week.

Five minutes into trade, the Dow Jones Industrial Average stood at 18,165.56, down 66.46 points (0.36 percent).

The broad-based S&P 500 fell 7.21 (0.34 percent) to 2,118.85, while the tech-rich Nasdaq Composite Index shed 16.55 (0.33 percent) to 5,072.82.

Orders for US durable goods fell 0.5 percent last month due mainly to a drop in orders in the volatile transport sector. But orders for machinery and other non-defense-related capital goods were strong, rising 1.0 percent in the month.

Other economic releases this week include the Conference Board's report on May consumer confidence and the second estimate of first-quarter economic growth.

Markets were closed Monday in observance of the Memorial Day holiday.