Home » today » Business » US stocks down pending quarterly reporting From Reuters

US stocks down pending quarterly reporting From Reuters

© Reuters. Wall street sign near New York Stock Exchange

(Reuters) – US stock indices are falling on Monday before the start of the quarterly reporting season, which may unpleasantly surprise investors due to the coronavirus pandemic.

JPMorgan Chase & Co Banks Report on First Quarter Results on Tuesday Wells fargo (NYSE 🙂 & Co, and analysts believe that the growth in revenue from trading operations was offset by a decrease in revenue from other activities. Analysts also expect weak forecasts for 2020.

The banking sector fell by 2.5%, the wider financial sector fell by 2.4%.

According to IBES forecasts from Refinitiv, the profit of the companies included in the S&P 500 index fell by 9% in the first quarter, and may collapse by 20.7% in the second quarter.

“We are preparing for one of the worst reporting seasons in recent years,” said Jesse Cohen of Investing.com.

By 6:53 p.m. Moscow time, the index fell by 2.21% to 23.195.96 points, the S&P 500 – by 1.94% to 2.735.62 points, – by 0.88% to 8.083.77 points.

Dish Network Corp shares fell 4.8% after the company announced a layoff.

Paper Ford Motor Co (NYSE 🙂 fell 5.7% after the automaker predicted a quarterly EBIT loss of around $ 600 million versus a profit of $ 2.4 billion a year earlier.

(Medha Singh and Akanksha Rana in Bangalore. Translated by Vladimir Sadykov. Edited by Anastasia Teterevleva)

Warning: Fusion media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy / sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.