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Wall Street Tries to Resume Growth as Downbeat Reports Weigh

U.S. stocks traded mixed on Tuesday morning, despite stronger-than-expected service sector PMI data, after the three main U.S. indexes showed fresh records on prior session on new hopes for a Sino-U.S. trade deal.

The Dow Jones Industrial Average showed the signs of positive move, being up by 0.04 percent, at 27,473, the S&P 500 index eased by 0.17 percent, to 3,072 and the Nasdaq Composite index faltered by 0.08 percent, to 8,426 at 15.56 GMT.  

Optimism over trade dispute between world’s largest powers remained intact on Tuesday, after pushing all three equities benchmarks towards their record highs during the previous session, even though reports suggest that Beijing is driving tough talks amid the backdrop of further signs of China’s economy weakness.

On the corporate area Uber Technologies shares tumbled by 7.27 percent at 16.02 GMT after the ride-hailing company posted again hard quarterly loss on Monday, despite of the fact that company gives a forecast of reaching profitability levels already by the end of 2021.

Peloton Interactive securities eased by 3.29 percent after the exercise-equipment producer reported lower-than-expected quarterly results.

Chesapeake Energy tumblesPhoto: Reuters

Chesapeake Energy Corp.’s stock deepened by 13.83 percent on Tuesday, after the oil-and-gas company reported a wider-than-expected decrease in earnings, sharply missing the markets expectations.

The bright spot of Tuesday’s trading were the moves of Kroger shares, which jumped by 10.33 percent after a $1 billion share buyback program announcement in the framework of its scheduled investor meeting.

Boeing capitalization advanced 2.06 percent after CEO Dennis Muilenburg announcement of being ready to forgo bonuses this year taking into consideration 737 Max crisis.


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