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Stocks remain unsteady on Wall Street amid trade disputes, corporate profit reports
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....tocks remain unsteady on Wall Street amid trade disputes, corporate profit reports<BR>PTI News<BR>Dated:- 16-10-2025<BR>PTI<BR>New York, Oct 15 (AP) Stocks are wavering in unsteady trading Wednesday as Wall Street contends with an escalating trade war and the latest profit reports from big banking and technology companies. The S&P 500 fell 0.1 per cent, reversing course from an early gain of 1.2 ....
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....per cent. The index is coming off a roller-coaster day where it careened between a sharp loss and modest gain. The Dow Jones Industrial Average was down 110 points, or 0.2 per cent, as of 1:25 pm Eastern time, and the Nasdaq composite was 0.1 per cent higher. The losses were broad. Technology stocks were among the heaviest weights on the market. The sector is particularly sensitive to escalation....
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....s in the trade conflict between the US and China. Nvidia fell 1 per cent. There were several bright spots within the technology sector helping to cushion the broader slide. ASML, a major supplier to the semiconductor industry, said it expects its revenue for 2025 to be 15 per cent above last year's, while next year's should be at least as high as this year's. It's stock rose 3.1 per cent in Amste....
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....rdam. Broadcom rose 1.6 per cent on Wall Street and Advanced Micro Devices jumped 6.1 per cent. “On the market side, we have seen continued positive momentum around investments in AI," CEO Christophe Fouquet said, "and have also seen this extending to more customers.” That's key when worries have been high that a bubble may be forming in artificial-intelligence technology, with too much inv....
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....estment flowing in akin to the 2000 dot-com frenzy. Also helping cushion the market's drop were several big banks. Bank of America climbed 3.6 per cent after delivering a profit for the latest quarter that was stronger than analysts expected. CEO Brian Moynihan said every line of the bank's business reported growth. Morgan Stanley climbed 4.9 per cent after likewise reporting a stronger profit ....
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....than analysts expected. That followed better-than-expected profit reports from several banks the day before, including JPMorgan Chase and Wells Fargo. On the losing end, PNC Financial fell 2.9 per cent. It reported a stronger-than-expected profit for the latest quarter, but it also gave a forecast for upcoming earnings that some analysts said was below expectations. Abbott Laboratories sank 4.9 ....
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....per cent after its revenue for the latest quarter finished just shy of analysts' expectations. Companies are under pressure to deliver strong profits after their stock prices broadly surged 35 per cent from a low in April. To justify those gains, which critics say made their stock prices too expensive, companies will need to show they're making much more in profit and will continue to do so. Cor....
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....porate profit reports are also under more scrutiny than usual as investors hunt for clues about the health of the US economy. That's because the US government's latest shutdown is delaying important updates on the economy, such as the report on inflation that was supposed to arrive Wednesday. The lack of such reports is making the job more difficult for the Federal Reserve, which is trying to fig....
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....ure out whether high inflation or a slowing job market is the bigger problem for the economy. The Fed cut its main interest rate last month for the first time this year, and officials indicated more may be on the way in hopes of giving the job market a boost. But too low interest rates can push upward on inflation, which has already been stubbornly stuck above the Fed's 2 per cent target. Commen....
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....ts from the Fed's chair, Jerome Powell, on Tuesday may have hinted more cuts to rates may be on the way. In the bond market, the yield on the 10-year Treasury rose to 4.04 per cent from 4.03 per cent late Tuesday. Also weighing on the market recently have been worries about escalating tensions between the United States and China. President Donald Trump has gone back and forth in his criticism of ....
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....China, particularly about restrictions it's placed on exports of rare earths, which are materials that are critical for the manufacturing of everything from consumer electronics to jet engines. One big winner because of all the uncertainty has been gold, and its price rose 1 per cent to top USD 4,200 per ounce. It's up nearly 60 per cent for the year so far as investors look to buy something that....
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.... can offer protection from trade wars, real military wars and the prospect of higher inflation coming because of mountains of debt being amassed by the US and other governments worldwide. In stock markets abroad, indexes were mixed in Europe after a stronger finish in Asia. South Korea's Kospi jumped 2.7 per cent, and France's CAC 40 rose 2 per cent for two of the world's bigger moves. (AP) GSP....
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....<BR> News - Press release - PIB....