U.S. stocks remain lower in midday trading; Dow off session lows
U.S. stocks were lower in midday trading on Tuesday as Wall Street took a breather from the rally that propelled the S&P 500 and the Dow Jones Industrial Average to fresh records.
The S&P 500 was losing 0.3%, to around 5,841, weighed down by a slump of over 2% in the energy sector and a decline of over 1.5% in the information-technology sector.
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Read MoreGoldman Sachs and Bank of America Earnings Lift S&P 500 as Dow Retreats from Record High
- Bank of America shares increased 1% after exceeding Wall Street estimates. The bank reported earnings of $0.81 per share versus expectations of $0.77, and revenue of $25.5 billion compared to the forecast of $25.3 billion.
- Goldman Sachs surged 2% after posting better-than-expected earnings of $8.40 per share,
Stock market today: S&P 500 holds near record high with big bank earnings in focus
Apple (AAPL) stock hit a new intraday high of $237.49 on Tuesday, eclipsing its prior record of $237.23 on July 15. The stock’s climb added about $70 billion to its market capitalization, putting it further ahead of Nvidia (NVDA) as the world’s most valuable company,
Read MoreUS Stock Markets Today: S&P 500, Nasdaq Open Marginally Higher
Two of the three main US stock market indices opened marginally higher on Tuesday, as better-than-expected earnings reports posted by some of the top companies have sustained positive sentiment at Wall Street. The S&P 500 opened 0.1% higher at 5,866.74, whereas the tech-heavy Nasdaq Composite opened 0.07% higher at 18,515.97.
The Dow Jones Industrial Average,
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Read MoreReason to go for fixed income investments as you build a portfolio
In recent months, fixed income investments have grown in popularity among retail investors in Kenya.
For instance, by June 2024, over 1.2 million individuals had signed up for investment schemes in this market class, a trend that reflects a growing recognition of the benefits that these relatively low-risk investment options can offer in today’s volatile economic climate.
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Read MoreThe Burst
The Ivy
Tiny AI Stock Lands Trillion Dollar Partnerships
C3.ai is blazing a trail in the world of AI, catching the attention of the biggest companies worldwide. This validation is one reason investors are adding the stock to their portfolios, especially since it has dropped over 90% from its all-time high.
It’s a billion dollar company that has landed trillion dollar partnerships with a majority of the FAANG companies.
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