Wednesday, February 28, 2024
HomenewsWorld markets today: US equities dip after mixed earnings from Goldman Sachs,...

World markets today: US equities dip after mixed earnings from Goldman Sachs, Morgan Stanley

US equity indices opened lower on Tuesday, after mixed earnings reports from Goldman Sachs and Morgan Stanley.

The Dow Jones Industrial Average fell 99.44 points, or 0.26 per cent at the open to 37,493.54. The S&P 500 opened lower by 11.48 points, or 0.24 per cent, at 4,772.35. The Nasdaq Composite dropped 64.50 points, or 0.43 per cent, to 14,908.26 at the opening bell.

The US dollar index rose 0.8 per cent to a more than one-month high.

On Friday, the US stocks closed almost flat. The Dow Jones Industrial Average fell 118.04 points, or 0.31 per cent, to 37,592.98. The S&P 500 gained 3.59 points, or 0.08 per cent, at 4,783.83. The Nasdaq Composite rose 2.58 points, or 0.02 per cent, to 14,972.76.

Oil prices rose by around 1 per cent on Tuesday, on escalating tensions in the Middle East.

Brent crude futures gained 81 cents, or about 1.04 per cent, to $78.96 a barrel at 1333 GMT. US West Texas Intermediate crude was up 41 cents, or 0.56 per cent, from Friday at $73.09 a barrel.

On Monday, Houthis said that they will expand targets in the Red Sea region to include US ships, following US-led strikes in Yemen.

Gold prices declined on Tuesday, on strengthening US dollar and Treasury yields.

Spot gold was down 0.8 per cent at $2,037.40 per ounce, as of 1212 GMT. US gold futures fell 0.5 per cent to $2,041.50.

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