Stocks end lower, retreating from records after Trump stokes trade uncertainty
The three major U.S. stock benchmarks snapped a multisession win streak on Tuesday as President Donald Trump said an agreement with China on trade tariffs had "a long way to go," and a trio of the U.S.'s largest banks reported quarterly results. The Dow Jones Industrial Average DJIA, -0.09% closed down by about 24 points, or less than 0.1%, at 27,336, ending four straight days of gains.
02% which delivered on lowered expectations but came as the Federal Reserve was expected to lower rates, currently at a range of 2.25%-2.50% at the end of July to combat the effects of tariff conflicts between the U.S. and China. Banks tend to benefit from a higher-rate environment because the institutions borrow over a short-term basis and lend over a longer term. JPMorgan, for one, said that it was lowering its forecast for net interest margin, which helped to put pressure on its shares.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How the Dow could zoom past 31,000 by the end of 2020America's stock market is on fire, registering its best start to a year since the dotcom bubble days of the late 1990s.
Read more »
Dow, Nasdaq end at records as Citigroup results mark start of earnings seasonU.S. stocks ended slightly higher on Monday as investors saw results from Citigroup kicking off the unofficial start of earnings season for the...
Read more »
Stocks pull back from record levels as earnings season picks up steamStocks got off to a slightly lower start Tuesday as investors digested a stream of earnings reports, including results from Dow components Johnson &...
Read more »
Stocks slip from record highs after Trump says 'long way to go' on trade talks with ChinaStocks dropped today after President Trump stoked uncertainty regarding trade negotiations between China and the U.S. The S&P closed 0.34% lower and the Nasdaq fell 0.43% while the Dow closed just below flat, breaking a five-day rally.
Read more »
Missing California camper Sheryl Powell found alive by a rescue team after 4-day searchA California woman and her dog who had been missing for four days were found alive in the Inyo National Forest, officials say
Read more »
Amazon is using Prime Day this year to try to win in fashionWhen you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel and accessories globally is worth more than $1 trillion, so Amazon clearly sees there's a lot at stake here. It's using Prime Day to tout fashion deals.
Read more »