Dow, S&P 500 fall as investor focus shifts to earnings; Nasdaq gains

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Dow, S&P 500 fall as investor focus shifts to earnings; Nasdaq gains
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S&P banking subsector fell 4.1%, with JPMorgan Chase & Co and Wells Fargo & Co set to report on Tuesday and analysts anticipating a bleak outlook for the yr

twitter-logo Reuters        Final Up to date: April 14, 2020  | 09:46 IST

The Dow and S&P 500 fell on Monday as U.S. firms ready to kick off a quarterly earnings season anticipated to be tough because of the coronavirus pandemic, whereas Amazon.com features helped the Nasdaq finish larger.

Shares pared losses late within the day, with the Nasdaq registering its first three-day streak of features since Feb. 12. Amazon.com gave the index its greatest increase, gaining 6.2% because the retail large mentioned it will rent 75,000 extra individuals amid a surge in demand for on-line orders.

The S&P banking subsector fell 4.1%, with JPMorgan Chase & Co and Wells Fargo & Co set to report on Tuesday and analysts anticipating a bleak outlook for the yr.

Quantity was lighter than standard with European and different markets nonetheless closed following Easter Sunday, however buyers are additionally bracing for earnings information from firms, mentioned Quincy Krosby, chief market strategist at Prudential Monetary in Newark, New Jersey.

Additionally learn: PM Modi Speech Dwell Updates: Coronavirus lockdown extension in India; COVID-19 tally crosses 10,000-mark

Additionally learn: Coronavirus influence: India worst hit inventory market; China least-affected

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