{"id":119235,"date":"2021-08-03T15:50:55","date_gmt":"2021-08-03T15:50:55","guid":{"rendered":"https:\/\/fin2me.com\/?p=119235"},"modified":"2021-08-03T15:50:55","modified_gmt":"2021-08-03T15:50:55","slug":"wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/","title":{"rendered":"Wall St falls as Delta worries outweigh earnings, M&A cheer"},"content":{"rendered":"

(Reuters) – Wall Street\u2019s main indexes fell on Tuesday, as concerns around a surge in the Delta variant of the coronavirus took the shine off an upbeat corporate earnings season and a pickup in global deals activity.<\/p>

FILE PHOTO: A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. REUTERS\/Andrew Kelly <\/figcaption>

Only four of the 11 S&P indexes were higher in early trading and gains were led by real estate and utilities, generally considered safe bets at a time of heightened economic uncertainty.<\/p>\n

A clutch of U.S. companies including industrial materials maker Dupont and Discovery Inc reported better-than-expected quarterly results, but their shares fell as investors booked profits amid lofty stock valuations.<\/p>\n

\u201cStocks have taken into account a substantial increase in earnings, which is mostly due to an easy comparison from last year,\u201d said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey.<\/p>\n

\u201cWhat\u2019s troubling investors is the return of COVID-19 infections potentially pulling down the economy and the possibility of a higher tax rates.\u201d<\/p>\n

Rising cases of the Delta variant and signs that the domestic economic rebound had begun to slow have knocked the three main U.S. stock indexes off record highs, while a deepening regulatory scrutiny in China has sent jitters through the global technology sector.<\/p>\n

China\u2019s Tencent Holdings Ltd slumped as much as 10% in Asia after a Chinese state media outlet branded online games as \u201cspiritual opium\u201d.<\/p>\n

Shares of U.S.-listed gaming companies including Activision Blizzard Inc, Electronic Arts Inc , Zinga Inc and Take-Two Interactive Software Inc fell between 2.8% and 9%.<\/p>\n

At 10:07 a.m. ET, the Dow Jones Industrial Average was down 0.19%, the S&P 500 was down 0.18% and the Nasdaq Composite was down 0.42%.<\/p>\n

Bond yields slipped again after weaker-than-expected manufacturing data in the previous session sent them to their lowest since July 20. Shares of major U.S. banks, which generally track bond yields, fell about 1%. [US\/]<\/p>\n

Energy stocks slid 0.2% following a slump in oil prices. [O\/R]<\/p>\n

Meanwhile, data on Tuesday showed factory orders rose 1.5% in June after a 2.3% increase in the previous month. Economists polled by Reuters had expected a rise of 1% in June.<\/p>\n

Focus later in the week will be on data on the U.S. services sector and the monthly jobs report for July.<\/p>\n

In M&A-driven moves, Translate Bio surged 29.1% after France\u2019s Sanofi agreed to buy the U.S. biotech company in a $3.2 billion deal.<\/p>\n

Under Armour Inc and Ralph Lauren Corp jumped 4.0% and 6.9%, respectively, after raising their annual revenue forecast.<\/p>\n

Overall, earnings at S&P 500 firms are now estimated to have climbed about 90% in the second quarter versus forecasts of 65.4% at the start of July, according to IBES data from Refinitiv.<\/p>\n

Declining issues outnumbered advancers 1.84-to-1 on the NYSE and 2.56-to-1 on the Nasdaq.<\/p>\n

The S&P index recorded 35 new 52-week highs and three new lows, while the Nasdaq recorded 48 new highs and 52 new lows.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – Wall Street\u2019s main indexes fell on Tuesday, as concerns around a surge in the Delta variant of the coronavirus took the shine off […]<\/p>\n","protected":false},"author":3,"featured_media":119234,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nWall St falls as Delta worries outweigh earnings, M&A cheer - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wall St falls as Delta worries outweigh earnings, M&A cheer - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – Wall Street\u2019s main indexes fell on Tuesday, as concerns around a surge in the Delta variant of the coronavirus took the shine off [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-03T15:50:55+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/08\/Wall-St-falls-as-Delta-worries-outweigh-earnings-MA-cheer.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/\",\"url\":\"https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/\",\"name\":\"Wall St falls as Delta worries outweigh earnings, M&A cheer - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-08-03T15:50:55+00:00\",\"dateModified\":\"2021-08-03T15:50:55+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\/\/fin2me.com\/category\/business\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Wall St falls as Delta worries outweigh earnings, M&A cheer\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fin2me.com\/#website\",\"url\":\"https:\/\/fin2me.com\/\",\"name\":\"Fin2me\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fin2me.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"Mark\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"caption\":\"Mark\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Wall St falls as Delta worries outweigh earnings, M&A cheer - Fin2me","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/","og_locale":"en_US","og_type":"article","og_title":"Wall St falls as Delta worries outweigh earnings, M&A cheer - Fin2me","og_description":"(Reuters) – Wall Street\u2019s main indexes fell on Tuesday, as concerns around a surge in the Delta variant of the coronavirus took the shine off [...]","og_url":"https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/","og_site_name":"Fin2me","article_published_time":"2021-08-03T15:50:55+00:00","author":"Mark","twitter_card":"summary_large_image","twitter_image":"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/08\/Wall-St-falls-as-Delta-worries-outweigh-earnings-MA-cheer.jpg","twitter_misc":{"Written by":"Mark","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/","url":"https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/","name":"Wall St falls as Delta worries outweigh earnings, M&A cheer - Fin2me","isPartOf":{"@id":"https:\/\/fin2me.com\/#website"},"datePublished":"2021-08-03T15:50:55+00:00","dateModified":"2021-08-03T15:50:55+00:00","author":{"@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fin2me.com\/business\/wall-st-falls-as-delta-worries-outweigh-earnings-ma-cheer\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fin2me.com\/"},{"@type":"ListItem","position":2,"name":"Business","item":"https:\/\/fin2me.com\/category\/business\/"},{"@type":"ListItem","position":3,"name":"Wall St falls as Delta worries outweigh earnings, M&A cheer"}]},{"@type":"WebSite","@id":"https:\/\/fin2me.com\/#website","url":"https:\/\/fin2me.com\/","name":"Fin2me","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fin2me.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"Mark","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fin2me.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","caption":"Mark"}}]}},"_links":{"self":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/119235"}],"collection":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/comments?post=119235"}],"version-history":[{"count":0,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/119235\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media\/119234"}],"wp:attachment":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media?parent=119235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/categories?post=119235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/tags?post=119235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}