U.S. stocks edged lower as investors navigated a mix of rising oil prices, corporate earnings signals, and shifting expectations around Federal Reserve policy. The Dow, S&P 500, and Nasdaq all turned down after early gains, reflecting a market grappling with geopolitical tensions and inflation concerns. Indexes Pull Back All three major indexes slipped roughly between 0.3% and 0.6%, giving back some of the previous session’s momentum. The downturn followed renewed volatility in energy markets and cautious sentiment around consumer spending. Oil Prices Add Fresh Pressure Crude prices extended their sharp rally, driven by heightened worries over a potential U.S.–Iran conflict. Brent crude climbed above $71 per barrel, while West Texas Intermediate hovered near $66 — its biggest daily jump since October. Rising energy costs revived inflation concerns and weighed on equities. Walmart Earnings in Focus Walmart posted stronger‑than‑expected results, but its cautious pro...
Wall Street Slightly Lower as Airlines Report Earnings Ahead of GDP Data
Wall Street leaned toward losses before the opening bell today as more earnings poured in while investors awaited the latest data on how the U.S. economy fared in the second quarter. Here are the key highlights:
- S&P 500 Futures: Fell 0.2% before the bell.
- Dow Jones Industrial Average Futures: Close to unchanged.
- Nasdaq: Down 0.3%.
Airlines in Focus:
- Southwest Airlines: Tumbled early after reporting a steep drop in second-quarter profit despite higher revenue. The airline also announced it was doing away with its 50-year-old practice of open seating, opting for assigned seats and premium seating options.
- American Airlines: Also reported earnings, and Wall Street predicts a release of earnings per share.
Additionally, Ford Motor Co. fell more than 13% in premarket trading after reporting a second-quarter net income decline due to rising warranty and recall costs.
Stay tuned for the latest GDP report, which will provide insights into the overall economic performance in Q2. Investors are closely monitoring these developments as market volatility continues.
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