Wall Street rally fizzles out

clock

US stocks traded lower as a number of disappointing trading statements curbed recent investor appetite.

The main Dow Jones Industrial Average was trailing 10.9 points (0.1%) lower at 9,082.3 in opening exchanges, while the technology-dominated Nasdaq was also down. The biggest loser was Home Depot, down almost 2% to $24.90, followed by telecoms group Verizon Communications, which reported a fall in quarterly profits as a result of its poor performing landline business. Bucking the trend, mining group Alcoa added 2.3% on the back of a rise in metal prices, including aluminium, copper and nickel. In London, the FTSE 100 lost its earlier momentum and trailed down 0.1% at 4572.1. Publ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Future of Investment Festival: Our specialist sessions for advisers

Future of Investment Festival: Our specialist sessions for advisers

Targeted at sustainable, forward-thinking finance professionals

Professional Adviser
clock 10 May 2024 • 1 min read
Defaqto: 'No appropriate and compliant way to compare MPS portfolios'

Defaqto: 'No appropriate and compliant way to compare MPS portfolios'

Tech firm to debut a performance comparator tracking solutions’ data

Hope Coumbe
clock 09 May 2024 • 1 min read
Assessing investment decisions made in the heat of the moment

Assessing investment decisions made in the heat of the moment

'Investors were panicking, thinking no one would ever go outside again'

Chris Justham
clock 08 May 2024 • 2 min read