Wall Street ekes out gains after retail earnings; trade in focus

- U.S. stocks eked out modest gains on Tuesday on the back of upbeat quarterly reports from retailers and in anticipation of a U.S.-China trade deal as early as this month end.

Wall Street began the day on a muted note after losing ground on Monday, when the S&P 500 failed to hold on to the 2,800-point mark for the second session in a row. “We’ve had a nice rebound this year, but investors have to face the reality of the earnings fundamentals which continues to deteriorate,” Michael Geraghty, equity strategist at Cornerstone Capital Group in New York City.

Their upbeat results along with Amazon.com Inc’s 0.49 percent rise pushed the consumer discretionary 0.66 percent higher, the most among S&P sectors. The retailing index rose 0.79 percent. The sector was weighed down by losses in Wall Street’s big banks - JPMorgan Chase & Co, Bank of America Corp, Wells Fargo & Co - which fell between 1 percent and 1.5 percent.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Wall Street thinks the $1 billion market CBD could explode to $16 billion by 2025In a new report, analysts at the investment bank Cowen highlight a marijuana and hemp compound called CBD as a massive opportunity for growth. I hope so since I invested ! SamirMustafic20
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

Wall Street Is Gushing Over Palo Alto Stock After Earnings Crushed EstimatesThe cybersecurity company crushed Wall Street profit expectations and reported fiscal second-quarter adjusted earnings per share of $1.51 versus the $1.22 consensus. It also gave sales guidance for its fiscal-third-quarter above the average analyst projection.
Fuente: MarketWatch - 🏆 3. / 97 Leer más »