U.S. Stocks Fail To Hold Early Gains, Close Weak Ahead Of Fed Policy

RTTNews | 940 ngày trước
U.S. Stocks Fail To Hold Early Gains, Close Weak Ahead Of Fed Policy

(RTTNews) - U.S. stocks fell into the red after a positive start on Tuesday, and then stayed weak right till the end of the day's trading session to close on a negative note.

Investors digested the latest batch of earnings updates and economic data, and looked ahead to the Federal Reserve's monetary policy announcement, due on Wednesday.

The major averages all fell after opening higher, and ended in negative territory. The Dow ended down 79.75 points or 0.24 percent at 32,653.20, more than 300 points off an early high of 32,975.48. The S&P 500, which climbed to 3911.79 in early trades, settled at 3,856.10, down 15.88 points or 0.41 percent, while the Nasdaq ended down 97.30 points or 0.89 percent at 10,890.85, after rising to a high of 11,156.35 at the start.

The Fed is widely expected to raise interest rates by another 75 basis points, but traders have recently expressed optimism the central bank will signal plans to slow the pace of rate hikes at upcoming meetings.

The optimism was partly offset by a report from the Labor Department showing a jump in U.S. job openings in the month of September.

A separate report released by the Institute for Supply Management showed a slight increase in U.S. manufacturing activity in the month of October.

The ISM said its manufacturing PMI edged down to 50.2 in October from 50.9 in September, but a reading above 50 still indicates growth in the sector. Economists had expected the index to dip to 50.0.

A report from the Commerce Department showed construction spending in the U.S. unexpectedly showed a modest increase in the month of October, inching up by 0.2 percent to an annual rate of $1.811 trillion, after falling by 0.6 percent to a revised rate of $1.807 trillion in August. Economists had expected construction spending to decrease by 0.5 percent.

Shares from transportation, retail, pharmaceutical and housing sectors mostly struggled for support.

Apple Inc (AAPL), Microsoft (MSFT), Salesforce.com (CRM), United Health (UNH) and Merck & Co (MRK) drifted down 1.4 to 2 percent.

JP Morgan (JPM) climbed nearly 2 percent. Nike (NKE), Goldman Sachs (GS) and Caterpillar (CAT) gained 1 to 1.3 percent. Boeing (BA) and Chevron (CVX) posted moderate gains.

Shares of Uber Technologies (UBER) soared 12 percent after the company raised its fourth-quarter operating profit forecast. The compay said it expects fourth-quarter adjusted EBITDA of $600 - $630 million, above analysts' expectations of a $569.39 million earnings.

In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Tuesday. Japan's Nikkei 225 Index rose by 0.3 percent, while China's Shanghai Composite Index surged by 2.6 percent.

The major European markets moved higher. The U.K.'s FTSE 100 climbed 1.29 percent, Germany's DAX gained 0.64 percent, and France's CAC 40 surged 0.98 percent.

read more
FTSE 100 Rises 0.7%

FTSE 100 Rises 0.7%

UK stocks are up in positive territory a little past noon on Friday, remaining firm after a steady start. Despite concerns about inflation and uncertainty about tariffs, investors are picking up stocks amid cautious optimism about growth.
RTTNews | 35 phút trước
CAC 40 Modestly Higher In Cautious Trade

CAC 40 Modestly Higher In Cautious Trade

After a slightly weak start, the French market has moved higher on Friday with investors picking up stocks amid hopes the European Central Bank will lower interest rates at its ensuing meeting. The U.S. federal court's ruling against President Donald Trump's sweeping tariff moves on its trading partners had added to uncertainty on the trade front, rendering the mood a bit cautious.
RTTNews | 1h 5phút trước
DAX Up 0.8% On Selective Buying As Markets Await Clarity On Tariffs

DAX Up 0.8% On Selective Buying As Markets Await Clarity On Tariffs

German stocks are gaining notably ground in positive territory on Friday despite data showing a drop in the nation's retail sales in the month of April, and amid uncertainty about Trump administration's tariff moves after U.S. court rulings against the levies proposed by the U.S. President.
RTTNews | 1h 35phút trước
Yen Rises On Strong Tokyo Core Inflation Data

Yen Rises On Strong Tokyo Core Inflation Data

The Japanese yen strengthened against other major currencies in the Asian session on Friday, as Tokyo's core inflation data came in stronger than expected, increasing the chances of the Bank of Japan's (BoJ) 25 basis point rate hike in July.
RTTNews | 2h 0phút trước
European Shares Rise On ECB Rate Cut Hopes

European Shares Rise On ECB Rate Cut Hopes

European stocks traded higher on Friday despite the latest U.S. court rulings on President Trump's "Liberation Day" tariffs adding another layer of uncertainty.
RTTNews | 2h 51phút trước
Asian Shares Decline Amid Tariff Uncertainty

Asian Shares Decline Amid Tariff Uncertainty

Asian stocks ended mostly lower on Friday due to uncertainty surrounding a court battle about U.S. President Donald Trump's tariffs and rising concerns about U.S. economic stability.
RTTNews | 3h 17phút trước
European Economic News Preview: Germany Inflation, Retail Sales Data Due

European Economic News Preview: Germany Inflation, Retail Sales Data Due

Inflation and retail sales from Germany and private sector credit from the euro area are the top economic news due on Friday. At 2.00 am ET, Destatis is scheduled to issue Germany's retail sales figures for April. Sales are forecast to grow 0.3 percent month-on-month, in contrast to the 0.2 percent fall in March.
RTTNews | 5h 52phút trước