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Cedears sink as much as 6% due to the fall of the CCL and doubts on Wall Street

Cedears sink as much as 6% due to the fall of the CCL and doubts on Wall Street

This happens in line with the main US stock indices that fell after the 3M, Johnson & Johnson, and GE exceeded earnings expectations, but warned of a difficult year ahead.

The Dow Jones Industrial Average lost 0.3%, to 33,521.92 units; the S&P 500 index fell 0.4% to 4,002.53 units; and the Nasdaq Composite subtracted 0.3%, to 11,325.83 units.

The fourth-quarter earnings season is the subject of a lot of attention, as companies are expected to feel everything the impact of the Federal Reserve’s interest rate hike campaign. The entity is expected to approve a rise of another quarter of a percentage point next week.

Industrial conglomerate 3M was down 5.9%, leading declines among Dow components, after reporting a drop in quarterly profit.

Verizon Communications Inc lost 0.4% after forecasting annual profit below estimates, while Johnson & Johnson lost 0.5% warning that its medical device business will be affected in the first half of 2023 due to an increase in Covid-19 cases in China.

General Electric fell 1.1% after a disappointing profit forecast for the year, despite beating expert estimates.

“The problem today is mainly earnings,” said Fall Ainina of James Investments. “Now many are anticipating an earnings recession, meaning back-to-back quarters of negative earnings.”

After registering its biggest advance in more than two months on the eve, Advanced Micro Devices Inc. declined 2.8%, since Bernstein lowered the perspective of his actions. Philadelphia’s SE Semiconductor Index was down 0.9%, coming off its highest in a month.

For his part, financial dollar falls and bankruptcy with 3 raises in the thread. The Cash on Settlement (CCL) interrupts mini bullish streak, while the MEP bounces. In this way, the Cash with low liquidation $2.19 and short with four days on the rise after the announcements of Sergio Massa.

Source: Ambito

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