Reuters Insider - Dow, S&P 500 dip slightly

Wise Finance SA

10/10/2018 09:25

Click the following link to watch video: https://share.insider.thomsonreuters.com/link?entryId=0_mrz5hvlg&referenceId=tag:reuters.com,2018:newsml_OV91CI7WR_930&pageId=ReutersNews
Source: Reuters Insider

Description: The Dow and S&P 500 ended down slightly on Tuesday as investors,
worried about global growth prospects, sold materials and industrials stocks.
Fred Katayama reports.
Short Link: https://reut.rs/2C4l2Z4

Video Transcript:

Wall Street inched lower on Tuesday as the tech stock rebound lost steam. That
dragged the S&P 500 down for the fourth straight day. Sapping investor
sentiment – the International Monetary Fund said the US-China trade war
would hurt global economic growth. The market's direction will greatly hinge
on earnings, which companies begin reporting this week, says William O'Neil &
Company Chief Investment Officer Randy Watts.  br/  br/ I think we need to see
two things – first, the estimates for the S&P 500 overall is for 6%
revenue growth and 16% earnings growth. I think we need to see companies at
least match that. Second, we want to see estimates for the rest of the year
and for next year at least stay stable.  br/  br/  PPG shares tumbled. The
specialty chemicals maker warned that higher raw materials costs would hit its
profit in the current quarter. Microsoft, Apple, and Amazon led the list of
rallying tech stocks. Wal-Mart's shares rose. Deutsche Bank said the
retailer's e-commerce investments have put it on track to gain market share.
Energy and mining stocks nudged the markets higher in Europe, but London's
FTSE ended flat as Brexit negotiations sapped investors' appetite for risk