Stocks slip after Trump says ‘a long way to go’ on trade and investors digest bank earnings

U.S. stocks traded lower on Tuesday after President Donald Trump said an agreement with China on trade tariffs had “a long way to go,” in a briefing with reporters. The fade comes a day after major equity indexes eked out a round of fresh all-time closing highs and as Wall Street digested a fresh, bank-heavy round of earnings reports.

What’s driving the market? President Donald Trump described progress toward a China and U.S. tariff pact as “a long way to go” to reporters. Trump made his comments during a cabinet meeting at the White House, with reporters in attendance. While all four banks were able to surpass much lowered expectations for second-quarter performance, “the broad theme we’re seeing is slowing loan growth, somewhat muted trading revenues and shrinking margins,” said Stephen Biggar, director of financial institution research at Argus Research in an interview. “Lower manufacturing activity, lower housing activity and business-investment slowing are all manifesting themselves” in bank performance, he said.

Which stocks are in focus? Dow-component JPMorgan’s stock rose 1.13% Tuesday, after the bank reported earnings and revenue for the second quarter that beat analyst estimates.

South Africa South Africa Latest News, South Africa South Africa Headlines

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

World stocks mark time ahead of U.S. data, earningsGlobal stocks struggled to cling to recent gains on Tuesday and the dollar linge...
Source: Reuters - 🏆 2. / 97 Read more »

Asia stocks set to trade lower as investors await clues from RBA meeting minutesInvestors will watch for the release of the Reserve Bank of Australia's meeting minutes, for clues on the next monetary policy move by the central bank after it cut its cash rate to a new record low in July. 🤦🏿‍♂️i told so. gold equals to money.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer reviews 6 stocks that 'have been anointed by Wall Street' amid an economic slowdown'They'll be the second-half winners that the big money guys just can't get enough of,' Jim Cramer says. Pretty easy to pick stocks that have already had a big bull run. That may or may not continue. If the economy slows disposable income drops which hits about half his picks. Trump advertises for McDonalds enough to keep it up, with his blood pressure.
Source: CNBC - 🏆 12. / 72 Read more »

S&P trades near flat as Citigroup results weigh on bank stocksThe benchmark S&P 500 index struggled for direction in choppy trade on Monday as... This picture is overused! They can kiss our butts for a bailout this time,..
Source: Reuters - 🏆 2. / 97 Read more »