Trade Tensions Cast Shadow on Market Performance
U.S. markets were mixed on Tuesday as investors grappled with mixed earnings and the impact of the U.S.-China trade war on corporate profits. The Dow gained, while the Nasdaq fell. Meanwhile, gold and U.S. Treasury yields benefited from a weaker dollar and mounting trade concerns.
On Tuesday, Wall Street displayed a mixed performance as investors processed diverse earnings reports amidst ongoing U.S.-China trade tensions impacting corporate profits. The S&P 500 remained nearly unchanged, while declining technology stocks dragged the Nasdaq down. Conversely, the Dow recorded modest gains.
Gold continued its upward trend against a weakening dollar, and U.S. Treasury yields saw a decline for the third consecutive session. Analysts remain cautious, noting company's uncertain guidance amid tariff-related challenges. Second-quarter earnings season showed 79% of S&P 500 companies beating expectations.
Trade tensions are visible in corporate results, with General Motors experiencing a significant profit dip due to hefty tariff costs. As the August 1 U.S.-EU trade deal deadline approaches, tensions are rising, with some EU members preparing potential retaliatory measures. Investors await potential trade resolution.
(With inputs from agencies.)
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