U.S. stocks fall amid earnings


NEW YORK, Oct. 13 (Xinhua) -- U.S. stocks finished lower on Tuesday as investors digested a slew of earnings reports.

The Dow Jones Industrial Average decreased 157.71 points, or 0.55 percent, to 28,679.81. The S&P 500 fell 22.29 points, or 0.63 percent, to 3,511.93. The Nasdaq Composite Index was down 12.36 points, or 0.10 percent, to 11,863.90.

Nine of the 11 primary S&P 500 sectors closed lower, with financials down 1.86 percent, leading the laggards. Communication services rose 0.35 percent, the best-performing group.

U.S.-listed Chinese companies traded mostly lower, with seven of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

Earnings season kicked off this week with banks among the first to report.

JPMorgan Chase reported third-quarter earnings on Tuesday that beat market consensus as a rebound in global markets lifted the bank's trading revenue. However, its shares closed down 1.62 percent.

Shares of Citigroup slid 4.8 percent despite it posting better-than-expected earnings.

Wall Street also cautiously eyed updates on negotiations concerning additional U.S. coronavirus stimulus.

On the data front, U.S. Consumer Price Index increased 0.2 percent in September on a seasonally adjusted basis after rising 0.4 percent in August, the U.S. Bureau of Labor Statistics reported Tuesday. The reading was roughly in line with market consensus.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In World

Buddhist prayer ceremony held in Cambodia for missing Thai activist
India says cyclone Burevi weakens after bringing rain to south
Seoul to shut down most establishments at 9 p.m. to contain coronavirus - official
Australian media trial over Pell reporting to continue in January
Tokyo prosecutors consider summary indictment of ex-PM Abe officials - Asahi
Myanmar monk offers temple sanctuary for threatened snakes
South Korea weighs tougher curbs as coronavirus cases hit nine-month high
India records 36,595 new coronavirus cases
Wisconsin Supreme Court rebuffs Trump challenge to election results
Some Sino-U.S. relations damage 'beyond repair', Chinese state media warns

Stories You'll Enjoy