Wall Street starts mostly lower amid strong earnings

Tuesday, 30. April 2019 15:32

Stock markets in the United States opened mostly in the red on Tuesday as traders digested the latest and awaited a fresh batch of corporate earnings. Strong earnings from McDonald's pushed the premarket trade up earlier after the company announced its earnings per share for the first fiscal quarter of 2019 stood at $1.72, while its revenue in the same period amounted to $4.96 in the first quarter, a 2% higher result than a year ago. Furthermore, General Motors Co., MasterCard and Pfizer, among others, also reported strong earnings.

Meanwhile, the trade feud between the two largest economies in the world seems to be drawing closer to the end, as the Chinese government previously stated that it expects a trade deal with the United States will be reached as soon as next week. On the US side, Secretary of the Treasury Steven Mnuchin said earlier that "hopes to make substantial progress" in the upcoming meetings with Chinese officials.

The Dow Jones jumped 0.21% at the open thanks to the financial sector as Goldman Sachs Group and JPMorgan Chase rose 1.89% and 1.44%, respectively.

The Nasdaq 100 dropped 0.95% at the same time dragged down by Alphabet's shares plunging 8.16%.

Meanwhile, the S&P 500 declined 0.16% as Corning Inc. plummeted 9.55%

The euro added 0.33% against the US dollar, to go for 1.1222 at 9:30 am ET.

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Breaking the News / GG