New York: Major wall Street The index bounced back from record territory on Wednesday, as enthusiasm faded over Washington’s well-earned numbers from peace politics.
ns doe And the S&P 500 had started the day trading with modest gains after a record-setting end on Tuesday, but closed as Democratic lawmakers. Congress Little progress has been made on the long-awaited social spending package.
FHN Financial’s Chris Low said that despite fears that there could be a potential price increase of more than $2 trillion in spending under the plan, stock markets may see the package as essential to the health of the broader economy.
“I could see from a stock standpoint, inflation is not the enemy. Development is essential,” he said.
The benchmark Dow Jones Industrial Average fell 0.7 per cent to end at 35,490.69. The broad-based S&P 500 closed 0.5 percent lower at 4,551.68.
The tech-rich Nasdaq Composite Index was flat at 15,235.84.
Traders were also eyeing corporate earnings, which have provided a mixed outlook on the health of major corporations as they bounce back from the pandemic.
Coca-Cola climbed 1.9 percent after reporting higher profits in the latest quarter, indicating better earnings expectations for the year as soft drink consumption improved around the world.
Boeing closed 1.5 percent after reporting a shock quarterly loss to recover from recent stumbling blocks, citing ongoing troubles with the 787 planes.
GM said its third-quarter profits declined as car sales continued to slide into 2022 due to global semiconductor shortages, with its shares falling 5.4 percent.
Google, which reported a huge profit jump after the market closed on Tuesday, ended up five percent.
ns doe And the S&P 500 had started the day trading with modest gains after a record-setting end on Tuesday, but closed as Democratic lawmakers. Congress Little progress has been made on the long-awaited social spending package.
FHN Financial’s Chris Low said that despite fears that there could be a potential price increase of more than $2 trillion in spending under the plan, stock markets may see the package as essential to the health of the broader economy.
“I could see from a stock standpoint, inflation is not the enemy. Development is essential,” he said.
The benchmark Dow Jones Industrial Average fell 0.7 per cent to end at 35,490.69. The broad-based S&P 500 closed 0.5 percent lower at 4,551.68.
The tech-rich Nasdaq Composite Index was flat at 15,235.84.
Traders were also eyeing corporate earnings, which have provided a mixed outlook on the health of major corporations as they bounce back from the pandemic.
Coca-Cola climbed 1.9 percent after reporting higher profits in the latest quarter, indicating better earnings expectations for the year as soft drink consumption improved around the world.
Boeing closed 1.5 percent after reporting a shock quarterly loss to recover from recent stumbling blocks, citing ongoing troubles with the 787 planes.
GM said its third-quarter profits declined as car sales continued to slide into 2022 due to global semiconductor shortages, with its shares falling 5.4 percent.
Google, which reported a huge profit jump after the market closed on Tuesday, ended up five percent.
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