US markets are inching down as investors await earnings reports from various companies | Business Upturn

US markets are inching down as investors await earnings reports from various companies

The S&P 500 lost 0.2% at 10:36 a.m. Eastern Time. 33,450 was the Dow Jones Industrial Average’s 0.2% drop. The Nasdaq dropped 0.2%.


Wall Street stocks were slightly down on Tuesday amid volatile trading ahead of this week’s crucial inflation and earnings reports.

As of 10:36 AM Eastern time, the S&P 500 was down 0.2%. The decline of 60 points (0.2%) brought the Dow Jones Industrial Average down to 33,450. As a result, the Nasdaq index dropped 0.2%.

Health care equities surged as technology sank.

Despite the Federal Reserve’s strong efforts to combat the persistently rising prices of food, clothes, and other necessities, inflation continues to be a top concern on Wall Street. As a result, investors have been keeping a careful eye on economic statistics and company updates.

The market’s next major milestone will be Thursday’s data on consumer price inflation. Economists anticipate that it will indicate that inflation fell to 6.5% in December, down from 7.1% in November.

To add to the excitement, investors are looking forward to the latest corporate earnings reports. The latest information from stores has only bolstered worries about declining sales as consumers feel the effects of rising prices and a lack of purchasing power. Macy’s isn’t the first company to issue a profit warning for the fourth quarter and beyond, with several more following suit in 2023.

Coinbase, a cryptocurrency exchange, said recently that it will be laying off 20% of its staff, marking the latest in a string of job losses in the technology sector. Gains of 3% were seen in the stock price.

On Friday, a number of major financial institutions, including Bank of America and JPMorgan Chase, will release their quarterly earnings reports. On Friday, other businesses, including Delta Air Lines and UnitedHealth Group, will also reveal their financials. For the first time since 2020, analysts predict that S&P 500 businesses’ profits per share will fall from the previous year.

There was an increase in bond yields. The 10-year Treasury yield, a major factor in home loan rates, increased to 3.60% from 3.53%.

Overnight, European stocks fell as Asian markets ended with a mixed bag. Oil prices have increased.