Stock market today: A torrent of profit reports leaves Wall Street mixed as small stocks keep rising

NEW YORK — U.S. stocks held steady in a calm day on Wall Street, as earnings reporting season ramped up for big companies. The S&P 500 fell 0.2% Tuesday. The Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite edged down 0.1%. The smaller stocks in the Russell 2000 continued their big run and rose 1%. They’ve flipped the market’s leaderboard recently and zoomed higher on hopes for coming cuts to interest rates.

GE Aerospace thrust 6.6% higher after beating analysts' forecasts for profit in the spring and raising its forecast for earnings over the full year. It was one of the strongest forces lifting the S&P 500. Through its customers, the paint and coatings company has been feeling the pain of high interest rates meant to get inflation under control. High mortgage rates have chilled the housing industry, for example, and a report on Tuesday showed sales of previously occupied homes weakened by even more in June than economists expected. Sales slowed in part because prices for previously occupied homes are at the highest ever recorded, according to the National Association of Realtors.

Hopes for coming cuts to interest rates have helped smaller stocks bounce in particular. They can get bigger benefits from lower interest rates than their bigger rivals, and the Russell 2000 of smaller stocks rose a market-leading 1%. It's a turnaround after smaller companies had lagged the biggest stocks, headlined by a small group known as the “Magnificent Seven,” for a while.

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.

Stock market today: Wall Street opens higher after inflation continues to easeNEW YORK (AP) — Stocks are edging higher in early trading on Wall Street and are heading for their fourth weekly gain in a row.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street inches higher ahead of inflation reportStocks inched higher on Wall Street as markets wait for a key report on inflation. The S&P 500 edged up 0.1% Thursday. The Nasdaq composite added 0.3%, and the Dow Jones Industrial Average rose 0.1%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street barely budges ahead of inflation reportNEW YORK (AP) — Stocks are barely budging in early trading on Wall Street as markets wait for a key report on inflation. The S&P 500 was up about 0.1% in the early going Wednesday. The Nasdaq composite was up 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street drifts in subdued trading around last week's recordsStocks drifted to a mixed close near the all-time highs they set last week. The S&P 500 index edged up 0.2% Wednesday. The Nasdaq composite rose 0.5%, and the Dow Jones Industrial Average edged up less than 0.1%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street slips in early trading, edging further below last week's recordsStocks are off to a sluggish start on Wall Street, pulling major indexes further below the all-time highs they set last week. The S&P 500 index slipped 0.2% in the first few minutes of trading Wednesday. The Nasdaq composite gave back 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street mixed as red-hot chipmaker Nvidia claws back some recent lossesMarkets on Wall Street were quietly mixed early Tuesday following a mixed session a day earlier that saw a third straight decline for red-hot chipmaker...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »