LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Wall St. extends recent fall but ends well off day's lows

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Wed, Oct 24, 2018
03:00 am
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

U.S. stocks fell on Tuesday after worries about the earnings outlook added to recent selling pressure, though major indexes ended well off the day`s lows as investors snapped up beaten-down shares late in the session.

Shares of Caterpillar tumbled 7.6 percent after the heavy-equipment maker maintained its 2018 earnings forecast, following forecast increases in the previous two quarters.

3M Co slid 4.4 percent after cutting its full-year profit outlook due to foreign currency-related challenges.

That reignited worries over the impact of rising borrowing costs, wages and tariffs on corporate profits and caused S&P industrial stocks to slide 1.6 percent.

Along with worries over profit growth, concerns over the upcoming U.S. mid-term elections and Italy`s budget have also sent investors scrambling out of stocks.

The S&P 500 energy index fell 2.7 percent, the most of any sector, as oil prices plunged after Saudi Arabia said it could supply more crude quickly if needed.

Investors trimmed most of the losses in afternoon trading as some thought the losses were overdone. Technical buying at support levels around 2,700 on the S&P 500 also helped stocks to bounce back, strategists said.

"There was a lot of early morning fear, and when the market didn`t accelerate further to the downside, you saw some people coming in to pick up some stocks," said Rick Meckler, partner, Cherry Lane Investments, a family investment office in New Vernon, New Jersey.

The day`s earnings disappointments aside, he said, technology earnings later this week could be upbeat. Microsoft, Intel and Alphabet all are due to report this week.

The Dow Jones Industrial Average fell 125.98 points, or 0.5 percent, to 25,191.43, the S&P 500 lost 15.19 points, or 0.55 percent, to 2,740.69 and the Nasdaq Composite dropped 31.09 points, or 0.42 percent, to 7,437.54.

The S&P 500 has declined for five straight sessions and is now down 6.5 percent from its record closing high on Sept. 20.

The Nasdaq again flirted with correction territory, falling more than 10 percent from its Aug. 29 record closing high before paring losses to end off those levels.

Earnings from S&P 500 companies are expected to have increased about 22 percent in the third quarter from a year ago, though 2018 is seen as a peak for the profit cycle, according to I/B/E/S data from Refinitiv.

Among gainers, McDonald`s rose 6.3 percent after it beat estimates for quarterly same-store sales on strong demand in international markets, while Verizon rallied 4.1 percent after it beat estimates for profit and net new phone subscribers.

Declining issues outnumbered advancing ones on the NYSE by a 2.44-to-1 ratio; on Nasdaq, a 2.13-to-1 ratio favoured decliners.

The S&P 500 posted three new 52-week highs and 86 new lows; the Nasdaq Composite recorded nine new highs and 382 new lows.

About 9.1 billion shares changed hands on U.S. exchanges. That compares with the 7.9 billion daily average for the past 20 trading days, according to Thomson Reuters data.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

Manufacturing, MSMEs spearheading economic growth: RBI Governor Das

BJP calls for shutdown in Kerala's Alappuzha today after RSS worker killed in clash with SDPI

Redmi K40 series set to launch today: Check expected price, specs and other details NOW!

Redmi K40, Redmi K40 Pro launch today: Check timings, how to watch event live streaming

Money earning scheme: This SBI plan will give you more than Rs 81,000 interest

IMPLEMENTED NOW! Good news for government employees, PSU staff of this state - All details here

Good news for these government workers - Insurance benefit up to R 5 lakh, loan up to Rs 2 lakh for daughter's marriage in this state

CSBC Bihar Police Constable Syllabus: Admit Card 2021 released! Check at csbc.bih.nic.in for salary, exam pattern

Rajasthan RVUNL Recruitment 2021: Notification issued for vacancies in various posts! Check details here

NSE glitch: Anil Singhvi demands investigation on market action between 3-3:30 pm; asks who caused huge jump in Bank Nifty and Nifty when FIIs were net sellers?

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved