A turbulent week for Wall Street continued on Wednesday with trade tensions, the government shutdown, and a solid wave of earnings reports all battling for investor attention<\/p>\n
The S&P 500 rose 0.4%. The Nasdaq Composite was up 0.7%. The Dow Jones Industrial Average dipped 17 points, or less than 0.1%.<\/p>\n
Earnings from Bank of America and Morgan Stanley, among others, continued an early trend of strong quarterly results.<\/p>\n
\u201cWhile there\u2019s little economic data on the calendar again today, it\u2019s been another strong showing for earnings this morning as eight of the ten companies reporting exceeded bottom-line results,\u201d wrote Bespoke Investment Group co-founder Paul Hickey.<\/p>\n
The major indexes initially opened higher but lost steam as the session rolled on. A brief rebound turned sideways, with the Dow finishing down on the day.<\/p>\n
\u201cThe market is still searching for direction after last Friday\u2019s sharp decline,\u201d Frank Cappelleri, founder of technical analysis firm CappThesis, told Barron\u2019s. \u201cThe rebound since then hasn\u2019t shown any meaningful follow-through from either side\u2014aside from a few intraday swings.\u201d<\/p>\n
Cappelleri says bears looking for an immediate breakdown haven\u2019t been rewarded, while dip buyers haven\u2019t seen much of a payoff, either.<\/p>\n
\u201cAt this point, patience is warranted on both sides,\u201d he says. \u201cThere\u2019s no reason to jump in front of a move that hasn\u2019t developed yet. It\u2019s better to wait for the next decisive break and then follow the momentum.\u201d<\/p>\n
Despite the lack of a consumer price index as the government shutdown hit Day 15, traders had plenty of commentary from Federal Reserve officials to parse through this week. Investors are also waiting for a substantial shift in the latest trade spat between the U.S. and China.<\/p>\n","protected":false},"excerpt":{"rendered":"A turbulent week for Wall Street continued on Wednesday with trade tensions, the government shutdown, and a solid…\n","protected":false},"author":2,"featured_media":1706,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[175],"tags":[79,18,19,17,188],"class_list":{"0":"post-124360","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-eire","10":"tag-ie","11":"tag-ireland","12":"tag-markets"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/124360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=124360"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/124360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/1706"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=124360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=124360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=124360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}