On Tuesday, Wall Street witnessed a session marked by significant fluctuations as investors navigated through predominantly positive earnings reports from banks, remarks from the Federal Reserve, and persistent US-China trade tensions. The S&P 500 was unable to maintain its earlier gain and ultimately closed 0.2% lower. Meanwhile, the Nasdaq declined by 0.8%, impacted by technology stocks like Nvidia, and the Dow saw an increase of 203 points. Key financial institutions, including Citigroup (up 3.9%), Wells Fargo (up 7.1%), JPMorgan (down 1.9%), and Goldman Sachs (down 2%), posted earnings that exceeded expectations. Despite this, some early gains were lost, affecting the broader financial sector performance. The stock market initially dipped following China's imposition of sanctions on five US affiliates of South Korea's Hanwha Ocean, escalating maritime trade tensions. Further, President Trump amplified trade concerns by threatening new measures, potentially restricting cooking oil exports. Remarks from Federal Reserve Chair Jerome Powell fueled anticipation of a possible rate cut in October and hinted at a potential pause in the central bank's balance sheet reductions.
The material has been provided by - RobotFX.Org
Download NOW!
No comments:
Post a Comment