Share

US stocks dip following mixed earnings

Wall Street stocks dipped on Wednesday following a batch of mixed earnings results and ahead of key congressional testimony on trade and monetary policy.

About 20 minutes into trading, the Dow Jones Industrial Average was down 0.2% at 26 017.02.

The broad-based S&P 500 declined 0.1% to 2 790.51, and the tech-rich Nasdaq Composite Index also fell 0.1% to 7 541.49.

Stocks with big moves included Best Buy, which surged 14.2% after reporting better-than-expected fourth-quarter earnings behind a three percent increase in comparable sales and Mylan, which plunged 13.4% following a disappointing earnings forecast.

Analysts were looking ahead to a second day of testimony with Federal Reserve Chair Jerome Powell, who again adopted a dovish tone on interest rates on Tuesday.

In another high-profile hearing, US Trade Representative Robert Lighthizer will update lawmakers on the state of US-China trade talks.

An even more closely scrutinised hearing will see President Donald Trump's former personal attorney Michael Cohen publicly discuss the polarising US president's conduct.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.22
-0.0%
Rand - Pound
23.96
-0.1%
Rand - Euro
20.58
-0.1%
Rand - Aus dollar
12.50
-0.2%
Rand - Yen
0.12
+0.0%
Platinum
910.20
-0.2%
Palladium
998.50
-0.7%
Gold
2,312.84
-0.1%
Silver
27.06
-0.4%
Brent Crude
88.02
-0.5%
Top 40
68,573
+0.8%
All Share
74,514
+0.7%
Resource 10
60,444
+1.4%
Industrial 25
104,013
+1.2%
Financial 15
15,836
-0.4%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders