US stocks end mostly lower as rally shows signs of fatigue

NEW YORK: Wall Street stocks finished a choppy session mostly lower on Wednesday as oil prices fell and fresh US labour data showed another spike in joblessness.

Adding to the dark outlook: the European Commission said the eurozone economy would contract by 7.7 per cent in 2020, as the catastrophic consequences of the coronavirus outbreak sweep through the continent. "As the macro indicators become more of a factor, that's going to create a bit of hesitancy on the part of the investors," Cardillo added.

But General Motors jumped 3.0 per cent after reporting better-than-expected profits and announcing plans to resume US manufacturing this month, even as net income plunged 86 per cent to US$294 million.

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