Wall Street slides as earnings jitters set in

  • 📰 malaymail
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 86%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

NEW YORK, July 11 — US stock indexes slid today, with the earnings season set to kick off in earnest this week amid concerns of weaker corporate profit due to the impact of...

NEW YORK, July 11 — US stock indexes slid today, with the earnings season set to kick off in earnest this week amid concerns of weaker corporate profit due to the impact of surging inflation.

The market is largely pricing in a 75-basis-point rate increase later in July, although concerns about the pace of future hikes have grown after a stronger-than-expected jobs report on Friday. "Not only are people worried that earnings are going to come in weak because of an economic slowdown, but also because of the rise of the US dollar which creates a headwind for earnings for multinationals," said Robert Pavlik, senior portfolio manager at Dakota Wealth Management.

Shares of Twitter Inc fell 6.5 per cent after Elon Musk, chief executive of Tesla, said on Friday he was terminating his deal to buy the social media company.

 

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 İE

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Futures fall with investors wary ahead of earningsNEW YORK, July 11 — US stock index futures fell today, bracing for the start of the earnings season which could see profits come under pressure at a time of growing fears of an...
Source: malaymail - 🏆 1. / 86 Read more »