Stocks were mixed in morning trading on Wall Street Thursday as investors continued to review the latest updates on the economy and corporate earnings.
The SandP 500 fell 0.1% as of 10:16 a.m. Eastern. The Dow Jones Industrial Average fell 52 points, or 0.2%, to 32,760 and the Nasdaq rose 0.1%.
Oil prices edged lower and weighed on energy stocks. Exxon Mobil fell 1.8%. A mix of retailers and industrial companies made solid gains. Best Buy rose 1.9% and Deere rose 1.6%.
The yield on the 10-year Treasury fell to 2.69% from 2.74% late Wednesday.
Stocks have meandered week, leaving major indexes mostly higher. August’s gain follows a standout July that was the SandP 500’s best month since late 2020. But markets remain volatile as investors try to determine the economy’s path ahead amid the highest inflation in four decades and efforts from central banks to fight higher prices.
Earnings remain in focus on Wall Street as investors look for more clues on how inflation is impacting various industries. Twinkie maker Hostess fell 5% after giving investors a disappointing profit forecast for the year. Bleach and consumer products maker Clorox fell 4.2% after also announcing a weak earnings forecast.
Source: United News of Bangladesh