Trading on Wall Street was choppy Tuesday, and stock indexes closed lower, dragged down by some companies' earnings reports and a sell-off in the tech sector.
Trading on Wall Street was choppy Tuesday, and stock indexes closed lower, dragged down by some companies’ earnings reports and a sell-off in the technology sector.
The Standard & Poor’s 500 index fell 10.73 points, or 0.4%, to 2,995.99. The Dow Jones industrial average fell 39.54 points, or 0.2%, to 26,788.10.The Nasdaq, which is heavily weighted with technology stocks, bore the brunt of the selling. It declined 58.69 points, or 0.7%, to 8,104.30. Investors have been shifting their focus to corporate earnings reports as they wait for developments in the trade negotiations between the United States and China. Optimism over the latest round of talks, which for now have at least prevented the costly conflict from escalating further, helped put investors in a buying mood in recent weeks. The benchmark S&P 500 has notched weekly gains the last two weeks.
McDonald’s shares slid 5% after reporting that its third-quarter profit and revenue fell short of Wall Street’s forecast. It was one of the big decliners among companies that rely on consumer spending. Procter & Gamble shares climbed 2.6% after the consumer products maker posted surprisingly good third-quarter earnings and raised its profit forecast for the year.
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.
Wall Street is sounding the alarm as a key source of stock-market buying evaporatesShare buybacks fell 18% year-over-year in the second quarter, Goldman analysts found, and the second half of the year will likely see further decline.
Read more »
Bank Of America expands zero-commission stock tradingBank Of America said on Monday it would expand its zero-dollar online trading to...
Read more »
5 things to know before the stock market opens TuesdayHere's what you need to know before the stock market opens: 1. The UK is facing Big Brexit votes. 2. SoftBank looking to take control of WeWork.
Read more »
Netflix Stock Falls After Verizon Announces Disney Plus One-Year GiveawayNetflix investors, already skittish about the looming entry of Disney and Apple into the competitive streaming space, pushed the stock down as much as 3.5% in morning trading Tuesday. The drop came…
Read more »
Lyft says it will be profitable a year ahead of schedule, stock surges - Business InsiderLyft cofounders Logan Green and John Zimmer said that the company could be profitable as soon as the fourth quarter of 2021.
Read more »