{"id":122784,"date":"2021-10-12T19:30:12","date_gmt":"2021-10-12T19:30:12","guid":{"rendered":"https:\/\/fin2me.com\/?p=122784"},"modified":"2021-10-12T19:30:12","modified_gmt":"2021-10-12T19:30:12","slug":"wall-st-steady-with-investors-cautious-ahead-of-earnings","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/wall-st-steady-with-investors-cautious-ahead-of-earnings\/","title":{"rendered":"Wall St steady with investors cautious ahead of earnings"},"content":{"rendered":"

NEW YORK (Reuters) – U.S. stocks were little changed in afternoon trading on Tuesday as investors remained cautious in the run up to third-quarter earnings, while a jump in Tesla shares helped support the market.<\/p>

FILE PHOTO: People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. REUTERS\/Brendan McDermid <\/figcaption>

Adding to investor uncertainty, the Federal Reserve will release minutes on Wednesday from its last policy meeting, and investors are looking for further clues on when the central bank could begin tapering its massive bond-buying program.<\/p>\n

Earnings unofficially kick off on Wednesday with results from some big banks, including JPMorgan Chase & Co. Its shares were 0.6%, while the S&P 500 banks index was down 0.4%.<\/p>\n

Analysts expect to see strong U.S. profit growth for the third quarter, but investors are worried about the impact of supply chain problems and higher prices on Corporate America as businesses emerge from the coronavirus pandemic. A number of companies have warned of issues heading into the reporting period.<\/p>\n

\u201cThe market is in a slump right now, and I suspect the reason is investors are waiting for the earnings parade, which begins tomorrow,\u201d said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.<\/p>\n

\u201cThere will be some erosion of earnings, but… nothing detrimental,\u201d he said. But \u201cthe market remains cautious, and if earnings should disappoint, we could sell off even further.\u201d<\/p>\n

Communications services and technology sectors led the day\u2019s declines. At the same time, Tesla gained 2.4% after data showed the electric vehicle maker sold 56,006 China-made vehicles in September, the highest since it started production in Shanghai about two years ago.<\/p>\n

The Dow Jones Industrial Average fell 31.28 points, or 0.09%, to 34,464.78, the S&P 500 lost 1.22 points, or 0.03%, to 4,359.97 and the Nasdaq Composite added 8.30 points, or 0.06%, to 14,494.50.<\/p>\n

Also rising were shares of American Airlines Group, which on Tuesday estimated a smaller-than-expected adjusted loss for the third quarter and signaled improved bookings for the rest of the year.<\/p>\n

Fed Vice Chair Richard Clarida said the central bank has all but met its employment goal to move ahead with reducing its bond buying program.<\/p>\n

Investors also will closely monitor Wednesday\u2019s consumer price index data for September.<\/p>\n

Advancing issues outnumbered declining ones on the NYSE by a 1.63-to-1 ratio; on Nasdaq, a 1.46-to-1 ratio favored advancers.<\/p>\n

The S&P 500 posted 10 new 52-week highs and 10 new lows; the Nasdaq Composite recorded 39 new highs and 84 new lows.<\/p>\n

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

NEW YORK (Reuters) – U.S. stocks were little changed in afternoon trading on Tuesday as investors remained cautious in the run up to third-quarter earnings, […]<\/p>\n","protected":false},"author":3,"featured_media":122783,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nWall St steady with investors cautious ahead of earnings - 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-steady-with-investors-cautious-ahead-of-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wall St steady with investors cautious ahead of earnings - Fin2me\" \/>\n<meta property=\"og:description\" content=\"NEW YORK (Reuters) – U.S. stocks were little changed in afternoon trading on Tuesday as investors remained cautious in the run up to third-quarter earnings, [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/wall-st-steady-with-investors-cautious-ahead-of-earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-12T19:30:12+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\/10\/Wall-St-steady-with-investors-cautious-ahead-of-earnings.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=\"2 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-steady-with-investors-cautious-ahead-of-earnings\/\",\"url\":\"https:\/\/fin2me.com\/business\/wall-st-steady-with-investors-cautious-ahead-of-earnings\/\",\"name\":\"Wall St steady with investors cautious ahead of earnings - 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