Wall Street, Us Stocks

Wall Street, Us Stocks

Wall Street comes off record highs ahead of big tech earnings | Malay Mail

Wall Street comes off record highs ahead of big tech earnings | Malay Mail

27/7/2021 8:42:00 PM

Wall Street comes off record highs ahead of big tech earnings | Malay Mail

NEW YORK, July 27 — US stock indexes retreated from record highs today ahead of earnings reports from the most valuable companies on Wall Street and in the run-up to the two-day Federal Reserve meeting. More than one-third of the S&P 500 is set to report quarterly results this week, led by...

channel for the latest updates.NEW YORK, July 27 — US stock indexes retreated from record highs today ahead of earnings reports from the most valuable companies on Wall Street and in the run-up to the two-day Federal Reserve meeting.More than one-third of the S&P 500 is set to report quarterly results this week, led by Apple, Microsoft, Amazon and Google-parent Alphabet, the four largest US companies by market value.

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Apple, Alphabet and Microsoft, which traded in a flat-to-slightly lower range, are set to report earnings after the market closes, while Amazon will report results on Thursday.“The markets may be in a sideways, quiet mode until we get some of those results... generally it’s more reactive than it is proactive,” said Randy Frederick, managing director of Trading and Derivatives at Schwab Centre for Financial Research.

“The expectations for earnings growth are high. This is being compared to 2020, when the economy was shut down, and as a result, there’s a very low bar (for comparison).”Lower-than-expected capital goods data somewhat dented sentiment, while investors also remained on edge ahead of more cues from the central bank on when it intends to begin reining in its massive stimulus program. The two-day Fed meeting will begin later on Tuesday. headtopics.com

Frederick said the Fed was likely to stand pat on policy this week but could hint at its plans for tightening during the Jackson Hole Symposium in August.At 9.49am ET, the Dow Jones Industrial Average was down 176.38 points, or 0.50 per cent, at 34,967.93 and the S&P 500 was down 17.99 points, or 0.41 per cent, at 4,404.31. The Nasdaq Composite was down 78.17 points, or 0.53 per cent, at 14,762.54.

Wall Street’s main indexes had inched up to record closing highs on Monday, carrying over momentum from a strong batch of corporate earnings last week.Of the S&P 500 constituents, 124 companies have reported earnings so far and 88.7 per cent of them have beaten estimates, according to Refinitiv data.

Electric-car maker Tesla Inc fell 1.5 per cent, as concerns over production being hit by a semiconductor shortage offset initial optimism over a better-than-expected second-quarter profit.US-listed Chinese stocks extended losses as fears over more regulations in the mainland persisted. Alibaba and Baidu lost about 3.3 per cent and 0.8 per cent, respectively.

General Electric rose around 2 per cent after lifting its annual free cash flow forecast. But the company, once a bellwether for US economic activity, warned that it was facing inflationary pressures that were likely to intensify in the rest of the year. headtopics.com

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Declining issues outnumbered advancers for a 3.57-to-1 ratio on the NYSE and for a 3.99-to-1 ratio on the Nasdaq.The S&P index recorded 16 new 52-week highs and no new lows, while the Nasdaq recorded 18 new highs and 94 new lows. — Reuters Read more: Malay Mail »

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Wall Street falls from record highs as earnings-heavy week kicks off | Malay MailNEW YORK, July 26 — US stock indexes fell from record highs today as locally listed Chinese firms tumbled on tighter regulations in the mainland, marking a poor start to a week packed with technology earnings and a Federal Reserve meeting. China last week announced sweeping new rules on private...

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Philippines records six week high in daily Covid-19 cases | Malay MailMANILA, July 27 — The Philippines recorded 7,186 new coronavirus cases today, the highest single-day increase in more than six weeks, and an additional 72 deaths, the Southeast Asian country’s health ministry reported. President Rodrigo Duterte warned yesterday of stricter virus curbs if the... The Philippines has 109 million people and 7186 new cases. Malaysia has 32 million people and 16117 new cases. This is the 'success' of the PN government.

Asian stocks hit 2021 lows on China tech selling, real yields drop before Fed | Malay MailHONG KONG, July 27 — Asian stocks hit their lowest this year today on a third straight session of selling in Chinese internet giants, and real bond yields hit record lows ahead of a Federal Reserve policy meeting. The Hong Kong benchmark fell 4.57 per cent, its third day of declines, with the...