Dow ends slightly higher as JPMorgan Chase shares rise after earnings

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Stocks close mostly lower as earnings season gets under way

U.S. stocks ended Tuesday’s session mixed, with the Dow posting modest gains and setting a new intraday high, while the S&P 500 and Nasdaq notched modest losses as investors parsed fourth-quarter results from several major financial firms as earnings season began in earnest. The Dow Jones Industrial Average rose 27 points, or 0.1% to end the day at around 28,935, the S&P 500 index lost about 5 points, or 0.2% to close at 3,283 and the Nasdaq Composite index retreated 23 points, or 0.2% to end at approximately 9,251. Stocks were boosted in early trade by better-than-expected earnings reports from Citigroup Inc. and Dow component JPMorgan Chase & Co. , with Citi’s stock gaining 1.6% on the day and JP Morgan’s adding 1.2%. Wells Fargo & Co. results disappointed, however, and the bank’s shares fell 5.4% Tuesday. Investors were also eyeing developments in U.S.-China trade, with a phase-one deal set to be singed Wednesday. Stocks hit session lows after a report from Bloomberg News said that existing tariffs on Chinese imports would likely stay in place through the election, before mostly recovering those losses. In other company news, Delta Air Lines Inc. shares rose 3.3% after it reported better-than-expected earnings and Perrigo Co. Plc [PRGO] shares rose 12.6% to lead the S&P 500, after it raised its guidance for full-year 2019 sales.

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Leave a Reply