Por Sagarika Jaisinghani
(Reuters) – Major Wall Street stock indexes fell on Tuesday as a rise in cases of the delta version of the coronavirus outweighed positive weather on corporate balance sheets and an uptick in global settlement activity.
Only four of the S&P’s 11 indices were up in early trading, and gains were led by real estate and utilities, generally considered safe bets in times of heightened economic uncertainty.
Several U.S. companies, including DuPont and Discovery Inc., reported better-than-expected quarterly results, but investors’ higher May profits weighed on their shares.
“The shares took into account the substantial growth in the balance sheet, which is primarily down (basis) over last year,” said Rick Meckler, partner at Cherry Lane Investments.
Rising cases of the Covid-19 delta variant and signs that the domestic economic recovery is beginning to slow have pushed the top three US stock indices to record highs, while deepening regulatory pressure from China has raised concerns in the global tech sector. happened.
At 11:59 am (Eastern Time) the Dow Jones was up 0.11% at 34,875 points, while the S&P 500 was down 0.018691% at 4,386 points. The Nasdaq Technology Index closed 0.42% down at 14,619 points.
This week’s focus will now be on US service sector data and July’s monthly employment report.
(Por Sagarika Jaisinghani e Shashank Nayar em Bengaluru)