Saturday, August 24, 2019
News

US stocks trade mixed amid earnings

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New York | Saturday, 2019 7:45:05 AM IST
US stocks traded mixed on Friday as investors digested earnings reports of several Dow component companies.

The Dow Jones Industrial Average rose 42.16 points, or 0.15 per cent, to 27,265.13. The S&P 500 was down 2.12 points, or 0.07 per cent, to 2,992.99, Xinhua news agency reported.

The Nasdaq Composite Index decreased 4.94 points, or 0.06 per cent, to 8,202.30.

Microsoft reported revenue of $33.7 billion and diluted earnings per share of $1.71, both beating Wall Street's estimates. The company's results were driven by a 39 per cent year-over-year surge in cloud revenue.

Credit card issuer American Express reported consolidated total revenues of $10.8 billion, which were net of interest expense. Its quarterly diluted earnings per share was $2.07, up 13 per cent from a year ago.

Major indexes turned up into green territory on Thursday afternoon after New York Federal Reserve President John Williams said that "it pays to act quickly to lower rates at the first sign of economic distress."

Market expectations for a rate cut in July were at 100 per cent, with 43.1 per cent looking to a 50-basis-point cut, according to the CME Group's FedWatch tool.

However, New York Fed clarified Williams' speech later, saying it "was an academic speech on 20 years of research. It was not about potential policy actions at the upcoming FOMC meeting," CNBC reported.

--IANS pgh/

( 236 Words)

2019-07-20-01:42:05 (IANS)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Rupee at 72 per dollar hits lowest level...
'Broader markets worse than Myanmar, Ban...
CSC signs MoU with ministry to digitise ...
Recession inevitable if protectionism ri...
No entry in S. Delhi for CVs sans RFID t...
Khadi industry likely to cross Rs 10k cr...
More...
 
INDIA WORLD ASIA
Kamal Nath gives details about farm loan...
Rahul Gandhi recalls Rajiv Gandhi's cont...
J-K: Army jawan killed in Pak firing alo...
Odisha: Navin Patnaik announces Rs 500 c...
AP: Police arrests RMP, recovers 108 kg ...
JK: Army establishes communication centr...
More...    
 
 Top Stories
Shooting in mind for powerlifter Ga... 
WhatsApp group of dacoits in Karach... 
Dream11, LafargeHolcim, Hyundai awa... 
Keeping an eye on WADA-NADA fiasco ... 
Ganesh Venkatraman to host 'Crime P... 
Saif wants shutterbugs to leave son... 
Education can help to overcome prej... 
3 dead, over 60 injured in Bengal t...