News Formal

U.S. Stocks Tumble as Earnings Season Begins

  • 📰 latimes
  • ⏱ Reading Time:
  • 22 sec. here
  • 13 min. at publisher
  • 📊 Quality Score:
  • News: 50%
  • Publisher: 82%

Finance News

U.S. Stocks,Earnings Reporting Season,Middle East Tensions

U.S. stocks experienced a significant decline as concerns over escalating tensions in the Middle East and mixed earnings reports weighed on investor sentiment. The S&P 500 had its worst week since October, while the Dow Jones Industrial Average and Nasdaq composite also saw notable drops. JPMorgan Chase, despite reporting stronger profits, faced a 6.5% decline due to a conservative forecast for future income growth.

U.S. stocks tumbled Friday following a mixed start to earnings reporting season. Worries about potentially escalating tensions in the Middle East rattled financial markets, pushing investors to look for safer places for their money. The S&P 500 sank 1.5% to close out its worst week since October, when a huge rally on Wall Street began. The Dow Jones Industrial Average dropped 475 points, or 1.2%, and the Nasdaq composite fell 1.6% from its record set the day before.

Gold, which has been setting records, got close to touching $2,450 per ounce for the first time before paring its gain. Adding to the nervousness was a preliminary report suggesting sentiment among U.S. consumers is sinking. It's an important update because spending by U.S. consumers is the main engine of the economy. Perhaps more worrisome was that U.S. consumers may be getting more pessimistic about inflation.

 

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:

 /  🏆 11. in CA

Canada Canada Latest News, Canada Canada Headlines

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

U.S. Stocks Tumble as Traders Digest Bank Earnings and Weigh Inflation ConcernsA recap of Friday's key moments in the CNBC Investing Club's Morning Meeting livestream, where U.S. stocks tumbled as traders analyzed bank earnings and considered inflation concerns.
Source: CNBC - 🏆 12. / 72 Read more »

5 chip stocks to own for Q1 earnings season - Cantor Fitzgerald5 chip stocks to own for Q1 earnings season - Cantor Fitzgerald
Source: Investingcom - 🏆 450. / 53 Read more »

Buy these stocks with overly conservative expectations ahead of earnings, Jefferies saysAhead of first-quarter earnings season, Jefferies identified some stocks with upward revision potential.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks tumble as hot inflation numbers douse hopes of June interest rate cut'You can kiss a June interest rate cut goodbye,' one analyst said of the latest CPI numbers showing stubborn inflation.
Source: CBSHealth - 🏆 480. / 51 Read more »

These stocks may have trouble living up to expectations for a big earnings turnaround this yearAccording to Trivariate Research, investors should be overweight in healthcare and energy sectors, where companies will likely achieve their estimates better.
Source: CNBC - 🏆 12. / 72 Read more »