Wall Street ends lower, Apple and banks weigh in, Corporate news

by Echo Wang

July 18 (Reuters) – The New York Stock Exchange ended lower on Tuesday as gains posted at the start of the session faded by the end of the day.

The Dow Jones index fell -0.69%, or 215.65 points, to 31,072.61 points.

The broader S&P-500 fell 32.31 points, or -0.84%, to 3,830.85 points.

The Nasdaq Composite fell for its part by 92.37 points (-0.81%) to 11,360.05 points.

After posting strong performances early in the session, as the results of Goldman Sachs and Bank of America were well received, the financials sector of the S&P-500 declined at the end of the day.

Worries over the pace of the Federal Reserve’s monetary tightening eased after some officials said they favored another 75 basis point interest rate hike last week at the bank’s monetary policy meeting. plant scheduled for next week.

“It’s very complicated to maintain bullish momentum,” said Ross Mayfield, strategist at Baird in Louisville, Kentucky. “And that’s kind of the story of bear markets.”

At stocks, Apple fell after Bloomberg reported that the company plans to slow growth in hiring and spending next year.

Goldman Sachs rose after posting second-quarter earnings that were down but above expectations.

* TO BE FOLLOWED ON TUESDAY:

(With contributions from Shreyashi Sanyal, Bansari Mayur Kamdar and Sruthi Shankar; French version Camille Raynaud)


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