News Formal

S&P 500, Dow slip as telecom stocks eclipse upbeat results from retailers | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 86%

Business News News

Business Business Latest News,Business Business Headlines

MAY 18 — The S&P 500 and the Dow fell today as sharp declines in telecom stocks and a weak housing starts data overshadowed upbeat earnings from Walmart and Home Depot. AT&T Inc shed 7 per cent, the top drag on the benchmark S&P 500, as it extended declines from Monday, when the...

Tuesday, 18 May 2021 11:27 PM MYT

Despite strong results, Home Depot’s shares came under pressure due to the lack of a solid outlook and disappointing housing data. Latest data showed, US homebuilding fell more than expected in April, likely pulled down by soaring prices for lumber and other materials. Fund managers trimmed their overweight positions on technology stocks to a three-year low as inflation worries left growth stocks vulnerable to a pullback, and turned overweight on UK stocks for the first time in seven years, a survey from Bank of America showed.

Tesla Inc dropped 0.8 per cent after the family office run by “Big Short” investor Michael Burry disclosed a short position worth more than half a billion against the electric-car maker.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US stocks extend sell-off, Dow -1.3pc | Malay MailNEW YORK, May 19 — Wall Street stocks tumbled early today, extending a weak stretch ahead of Federal Reserve meeting minutes as inflation worries buffet the market. The minutes will be scrutinized for any differences between the internal conversation and the Fed’s dovish stance on monetary...
Source: malaymail - 🏆 1. / 86 Read more »