Wall Street opens mixed as bank earnings season begins
Summarised from 2 outlets · Updated 12 Oct, 16:32 · Archive
US stock markets opened little changed on Monday as investors awaited bank earnings and inflation data.
The S&P 500 and Nasdaq opened little changed as technology stocks came under pressure. The Dow Jones Industrial Average rose 107.03 points, or 0.21 per cent, to 51,761.98, while the S&P 500 gained 6.14 points, or 0.08 per cent, to 7,817.68. The Nasdaq Composite lost 10.23 points, or 0.04 per cent, to 27,355.94.
Brent crude futures traded at more than $106 a barrel following deadly strikes on Riyadh's international airport over the weekend. The rise was contained, however, after US President Donald Trump said Ukraine and Russia had agreed to halt attacks on each other's energy facilities following a US diesel-supply deal with the Kremlin. Details of the agreement were not clear and the plan faces opposition in Washington DC.
Within the market, the S&P 500 communication services sector rose 1.1 per cent, with Meta adding 3.2 per cent and energy stocks adding 1.8 per cent. Salesforce rose 3.5 per cent after a BofA Global Research double upgrade to 'buy' from 'underperform'. S&P 500 earnings are expected to soar 30.6 per cent in the third quarter, according to LSEG IBES data. Clark Bellin, president and chief investment officer of Bellwether Wealth, said: 'The big themes to watch in earnings season include how companies are deploying and profiting from AI.'
How it is being reported
- Wall Street opens little changed ahead of bank earningsUS stocks have opened mixed as investors prepared for the release of more economic data and earnings reports from major banks.The West Australian · 12 Oct, 16:14
- Wall Street opens little changed ahead of bank earningsUS stocks have opened mixed as investors prepared for the release of more economic data and earnings reports from major banks.Perth Now · 12 Oct, 16:14
In this story: S&P 500 · Nasdaq · Dow Jones Industrial Average · Goldman Sachs · Citigroup · JPMorgan Chase · Donald Trump · United States
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