The New York stock market recorded a fall, this Monday (18). The stock markets even opened higher, but did not sustain themselves, with a worsening in the final stretch, amid indicators and news that point to a loss of momentum in the United States economy. In addition, the earnings season remained largely in the focus of investors.
The Dow Jones Industrial Average closed down 0.69% to 31,072.61 points, the S&P 500 was down 0.84% to 3,830.85 points and the Nasdaq was down 0.81% to 11,360.05 points. .
In the balance sheet season, Goldman Sachs posted a gain in net income, with a better-than-expected result in the second quarter, and the stock closed up 2.51%. Bank of America had a drop in profit, but revenue growth and the share rose 0.03%.
Already IBM, which published results only after today’s close, recorded a drop of 1.28%. Among other stocks in focus, Boeing retreated 0.01%, losing steam in the final stretch. Earlier, the share rose after Delta announced the purchase of 100 737 MAX planes. Among sectors, technology, communication services, healthcare and finance were among the lows, with energy leading gains on a positive journey to oil.
On the indicator agenda, the confidence index of construction companies dropped from 67 in June to 55 in July, compared to analysts’ forecast of 66, the lowest in two years. According to Pantheon, the sector faces a “collapse” in the US and that confidence is expected to worsen further, as the Federal Reserve (Fed, the US central bank) raises interest rates and cools the market.
Already, according to Capital Economics, the outlook for corporate earnings is optimistic in the US, but the Fed displays a hawkish stance. For the consultancy, this picture will keep the S&P 500 under pressure.
The big banks, in turn, delivered disappointing results as a whole this quarter, which reinforces fears of recession ahead. Furthermore, the global effects of the Ukraine war have been highlighted by major US bankers.
Source: CNN Brasil
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