Investors were on tenterhooks this Wednesday as they carefully evaluated the corporate results of the main companies and keep a close watch on the resurgence of the conflict in Gaza.
In that sense, the S&P 500 (-0.7%), the Dow Jones Industrial (-0.5%) and the Nasdaq Composite (-0.9%), all in negative territory.
The day in the New York square began with a decline in shares, marked by the uncertainty they generated the imminent Tesla and Netflix reportsscheduled to be published after the final bell of the markets.
In the early hours of the morning, Morgan Stanley shares fell after disclosing a decrease in its quarterly net incomewhile Procter & Gamble shares showed an upward trend as they reported an increase in their quarterly profits.
Wall Street: the impact of the conflict in the Middle East
News of a deadly explosion at a Gaza hospital intensified fears of broader regional conflictleading Arab leaders to cancel a planned summit with US President Joe Biden, thus reducing prospects for a diplomatic solution in the short term.
Besides, Investors cautiously watched economic data coming out of China, which offered a mixed picture of the economy. While growth slowed in the latest quarter, September retail sales beat expectations.
At the same time, Treasury bond yields remain near multi-year highs, with the benchmark 10-year note yield above 4.8%a figure that has not been seen since 2007.
In the area of commodities,Oil prices experienced a risea, where Brent crude oil rose more than 1%, reaching around US$91 per barrel. This increase was driven by concern about the conflict between Israel and Hamasas well as hopes of strengthening Chinese demand.
Regarding the semiconductor sector, Stocks continued their decline for the second day in a row after the United States announced restrictions on chip exports. Companies such as Nvidia, AMD and Intel recorded falls in their prices.
Finally, the airline sector is also suffering setbacks, with United Airlines cutting its profit forecasts for the end of the year. Delta and American shares also experienced declines in price.
Source: Ambito
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