About 15 minutes into trading, the Dow Jones Industrial Average stood at 28,926.14, up 0.1 per cent.[NEW YORK] Major US indices pulled back from records early Tuesday following mixed banking earnings and after the US removed its currency manipulator label on China, a sign of further mellowing of trade relations.
JPMorgan Chase and Citigroup both rose more than two per cent after reporting better-than-expected results but Wells Fargo fell 3.5 per cent after another earnings stumble and signaled it expects cost cuts.The broad-based S&P 500 shed 0.2 per cent to 3,282.64, while the tech-rich Nasdaq Composite Index dropped 0.3 per cent to 9,250.25.
US data showed only modest consumer inflation in December when food and fuel categories were stripped out, a dynamic unlikely to alter the Federal Reserve's stance of keeping interest rates steady.
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Source: BusinessTimes - 🏆 15. / 51 Read more »