{"id":141417,"date":"2021-10-11T19:30:07","date_gmt":"2021-10-11T19:30:07","guid":{"rendered":"https:\/\/precoinnews.com\/?p=141417"},"modified":"2021-10-11T19:30:07","modified_gmt":"2021-10-11T19:30:07","slug":"wall-street-slips-as-caution-rises-over-earnings-financials-down","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/wall-street-slips-as-caution-rises-over-earnings-financials-down\/","title":{"rendered":"Wall Street slips as caution rises over earnings; financials down"},"content":{"rendered":"

NEW YORK (Reuters) – U.S. stocks were mostly lower in afternoon trading Monday with trading choppy as investors were cautious before third-quarter earnings season.<\/p>

FILE PHOTO: A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. REUTERS\/Andrew Kelly <\/figcaption>

Indexes reversed earlier gains, with the Dow and S&P 500 lower and the Nasdaq essentially flat.<\/p>\n

Supply chain problems and higher costs for energy and other things have fueled concern about earnings, set to kick off with JPMorgan Chase & Co results on Wednesday.<\/p>\n

JPMorgan shares were down 1.9%, among the biggest drags on the S&P 500, and the S&P financial index was down 0.7%.<\/p>\n

\u201cI was surprised to see the market up this morning because earnings season is right ahead of us, and the market is a bit cautious going into this earnings season,\u201d said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York, New York.<\/p>\n

\u201cSupply chain issues may have impacted earnings for a number of companies and certain industries more than others.\u201d<\/p>\n

The Dow Jones Industrial Average fell 131.61 points, or 0.38%, to 34,614.64, the S&P 500 lost 12.64 points, or 0.29%, to 4,378.7 and the Nasdaq Composite dropped 8.08 points, or 0.06%, to 14,571.46.<\/p>\n

Analysts expect a 29.6% year-over-year increase in profit for S&P 500 companies in the third quarter, according to IBES data from Refinitiv as of Friday, down from 96.3% growth in the second quarter.<\/p>\n

Energy was also lower after hitting its highest since January 2020. Higher oil prices have fed into concerns about rising costs for businesses and consumers.<\/p>\n

Market participants said traders may have been out for the U.S. Columbus Day holiday. U.S. bond markets shut Monday for the holiday.<\/p>\n

Among individual stocks, Southwest Airlines Co slipped 3.2% on a report that it canceled at least 30% of its scheduled flights on Sunday.<\/p>\n

Advancing issues outnumbered declining ones on the NYSE by a 1.08-to-1 ratio; on Nasdaq, a 1.08-to-1 ratio favored decliners.<\/p>\n

The S&P 500 posted 40 new 52-week highs and 7 new lows; the Nasdaq Composite recorded 83 new highs and 109 new lows.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK (Reuters) – U.S. stocks were<\/p>\n","protected":false},"author":3,"featured_media":141416,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nWall Street slips as caution rises over earnings; financials down - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/wall-street-slips-as-caution-rises-over-earnings-financials-down\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wall Street slips as caution rises over earnings; financials down - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"NEW YORK (Reuters) – U.S. stocks were\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/wall-street-slips-as-caution-rises-over-earnings-financials-down\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-11T19:30:07+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/10\/Wall-Street-slips-as-caution-rises-over-earnings-financials-down.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/wall-street-slips-as-caution-rises-over-earnings-financials-down\/\",\"url\":\"https:\/\/precoinnews.com\/business\/wall-street-slips-as-caution-rises-over-earnings-financials-down\/\",\"name\":\"Wall Street slips as caution rises over earnings; 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