Wall Street dips from record in 'Jason Bourne market'

REUTERS: U.S. stocks dipped on Tuesday, reversing earlier intraday record highs, following a report that the United States would likely maintain tariffs on Chinese goods until after November's presidential election.

The Dow Jones Industrial Average, S&P 500 and Nasdaq each touched intraday record highs before losing ground in afternoon trade. The Dow ended the session with a modest gain. Wells Fargo & Co tumbled 5.4per cent after reporting a slump in profit as it set aside US$1.5 billion for legal expenses. Citigroup Inc rose 1.6per cent as it topped Wall Street profit estimates.

Analysts expect profits at S&P 500 companies to drop 0.5per cent for the second consecutive quarter, according to Refinitiv IBES data, largely due to a drag in energy and industrial earnings that have been hit by the prolonged Sino-U.S. trade war. Pinterest surged 9.6per cent after a report that the online scrapbook's U.S. user base had surpassed Snap Inc's , making it the third-largest social media platform.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Wall Street nears record high on trade, earnings optimismU.S. stock indexes rose to near all-time high on Monday on optimism about the imminent signing of a preliminary U.S.-China trade deal as well as ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Wall Street hits fresh record on trade, earnings optimismU.S. stock indexes rose to near all-time high on Monday on optimism about the imminent signing of a preliminary U.S.-China trade deal as well as ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Wall Street hits record, boosted by trade and earnings optimismNEW YORK (REUTERS) - Apple, Alphabet and other tech favorites propelled Wall Street to record highs on Monday (Jan 13), fuelled by optimism about the signing of a preliminary US-China trade deal, as well upcoming fourth-quarter earnings reports.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Wall Street set for flat open, big bank earnings mixedWall Street was set to open largely flat on Tuesday, as investors took a breather following a record rally on optimism over the U.S.-China trade ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US: Wall St opens near record highs ahead of trade deal, earningsRead more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »