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Negative Sentiment Prevailed Among Investors on Wednesday

Author:
Alexandar Machev
Market News

U.S. stocks closed lower Wednesday, a day after the S&P 500 and Nasdaq carved out their first records in months, following earnings from high-profile companies, including Dow components Boeing Co. and Caterpillar Inc., that offered a mixed picture of American corporations.

The Dow Jones Industrial Average fell 59.34 points, or 0.2%, to 26,597.05, while the S&P 500 index shed 6.43 points, or 0.2%, to 2,927.25. The Nasdaq Composite Index dropped 18.81 points, or 0.2%, to 8,102.01. During the session, the tech-heavy index set a new intraday high of 8,139.55.

On Tuesday, the S&P 500 index and the Nasdaq Composite Index closed at new highs while the Dow rose to stand less than 1% away from its record.

Corporate quarterly results remain in focus for Wall Street midweek. More than a fifth of the S&P 500 constituents have reported results, with nearly 80% of those companies producing earnings results that topped analysts’ consensus estimates, compared with about 65% in the fourth quarter, according to data from Refinitiv.

 

 

International Financial Markets Department

Euro-Finance Ltd.

forex@eurofinance.bg

www.eurofinance.bg 

*This material should not be considered as a recommendation for buying/selling securities.