US Stocks End Mostly Down After Choppy Session
"); jQuery("#212 h3").html("
"); });
2022-12-08 HKT 05:55
Wall Street stocks finished a choppy session mostly lower on Wednesday as markets weighed recession worries and awaited key economic data later this month.
Analysts described the market movements as reflecting hesitancy, ahead of closely-watched consumer price data next week and a Federal Reserve decision on monetary policy.
On Wednesday, the Bank of Canada hiked its key lending rate by 50 basis points to 4.25 percent, but hinted that this was likely to be its last rate increase for now.
Markets are hoping for a similar pivot at next week's Fed meeting.
The Dow Jones finished flat at 33,587.
The S&P 500 dipped 0.2 percent to 3,933, while the Nasdaq dropped 0.5 percent to 10,958.
Among individual companies, Carvana plunged 42.9 percent following reports that the e-commerce auto dealer's creditors signed a pact pledging to negotiate together in a restructuring.
The report added to speculation that Carvana could file for bankruptcy protection.
Campbell Soup jumped 6.0 percent as it lifted its full-year targets, citing strong demand for its food products and improvements in managing its supply chain.
Lowe's rose 2.4 percent as the home-improvement retailer announced a new US$15 billion stock repurchase authorisation at an investor conference.
It also said it was targeting profit margins of 14.5 percent in 2025, up from 12.6 percent in 2021. (AFP)
US Stocks Rise On Hopes Of Pause In Rate Increases
Wall Street stocks finished solidly higher on Thursday, reflecting better sentiment on the US economy and a consensus vi... Read more
China's Financial Risks 'controllable': Regulators
The head of the National Financial Regulatory Administration on Thursday told a high-profile forum in Shanghai that the ... Read more
Banks Cut Yuan Deposit Rates, Could Boost Consumption
China's biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pre... Read more
Cheese And Wine Put EU, Australia Deal In Peril
Australia on Thursday threatened to walk away from a blockbuster free trade deal with the European Union unless its prod... Read more
US Stocks End Mixed As Tech Shares Are Sold Off
Gains by industrial companies lifted the Dow on Wednesday, while weakness among technology shares pushed the Nasdaq deci... Read more
Amazon 'plans Prime Video Streaming Service With Ads'
Amazon.com is planning to launch an advertising-supported tier of its Prime Video streaming service, the Wall Street Jou... Read more