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Stocks retreat on busy day of earnings, after ECB signals lower rates ahead


Thursday, 25 July 2019 23:43 WIB

Standard & Poor's 500Saham AS


c_740_198_16777215_00_images_assets_USMARKET_0USA-STOCKS_original.jpg

U.S. stocks traded lower midday Thursday after a series of mostly disappointment earnings reports and management commentary, despite the prospect of further interest rates cuts after the European Central Bank policy meeting and ahead of the Federal Reserve decision next week.

The Dow Jones Industrial Average was weighed down in particular by shares of Boeing Co. after it reported a larger than expected loss Wednesday and after news that it’s 737 Max production could be suspended.

Technology-related stocks were also under pressure after electric-car maker Tesla failed to meet earnings expectations, while Wall Street digesting a deluge of earnings reports on one of the busiest days of earnings releases this season.

Source: marketwatch


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