Apr 18, 2024 (MENAFN via COMTEX) --
(MENAFN - Baystreet) S&P Faces 4th Losing Session
S&P Looks to Break 3-Day Losing Streak
S&P Lower on Message from Powell
Dow Lifted into Green
Dow Fights to End 6-Day Skid Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Wednesday, April 17, 2024
S&P Rises, Trying to Break 3-Day Slump Advertisment
The S&P 500 edged higher on Wednesday, on pace to snap a losing streak as the corporate earnings season ramped up.
The Dow Jones Industrials gained 73.5 points to 37,872.47,
The much-broader index recovered 8.19 points to 5,059.60.
The
NASDAQ sank 0.9 points to 15,864.35.
Material and utilities were the best-performing S&P 500 sectors on Wednesday, gaining around 1% each. Real estate and information technology names restricted gains, as each sector slipped about 0.3%.
United Airlines climbed more than 8% after posting a narrower-than-expected loss and beating on revenue. J.B. Hunt Transport Services fell more than 7% after missing analysts' expectations on the top and bottom lines.
The new earnings season is off to a promising start. While less than 10% of S&P 500-listed companies have reported financials so far, more than three out of every four have surpassed Wall Street expectations.
Those moves come after the Dow was able to break a six-day losing streak.
Prices for the 10-year Treasury gained ground, dropping yields to 4.63% from Tuesday's 4.66%. Treasury prices and yields move in opposite directions.
Oil prices let go of 73 cents to $84.63 U.S. a barrel.
Gold prices lost $4.10, to $2,403.70 U.S. an ounce.
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