Stock Market Today: Stocks slip with earnings, Biden Israel visit in focus

📆 17/10/2023 12:56:00
📰 startelegram

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U.S. equity futures slipped lower Tuesday, while the dollar built gains against its global peers in safe-having trading while Treasury yields nudged higher as investors kept a wary eye on the uneasy calm in Israel's war with Hamas while bracing for a flurry of third quarter earnings prior to the opening bell.

Stocks found favor with investors on Monday, as the S&P 500 snapped a three-day losing streak to end the session more than 1% higher, helped by a pullback in Treasury yields that powered most-mega cap tech stocks.

"Markets fear a ground offensive by Israel that could ignite a larger and more complicated regional conflict that risks regional supply chains, energy output, economic growth and financial stability," said Kyle Rodda, senior market analyst at London-based Capital.com. Data from the London Stock Exchange Group suggest collective S&P 500 profits are likely to rise 2.2% from a year earlier to a share-weighted $468.8 billion, paced by the communications services sector (which includes Google parent Alphabet

In other markets, oil prices bumped higher in early New York trading. with reports that the Biden administration may ease sanctions on the sale of crude from Venezuela offset by the simmering tensions in the middle ease.

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