US stock markets fell for the second day in a row on Tuesday. Markets are in a “wait and see” mode ahead of the upcoming earnings season, according to the major bank.
After rising for the first time since the beginning, it finally became a new day with a moderate decline in the central stock market indices in the United States.
- The Dow Jones index fell 0.34 percent
- The S&P 500 index fell 0.24 percent
- The Nasdaq Composite Index closed 0.14 percent
Markets are mostly in a “wait and see” mode, major Bank of America said in an update, according to CNBC.
Reports for the third quarter start in earnest tomorrow, with numbers from JPMorgan Chase and Delta Airlines ahead of the stock market open.
In addition, other giants such as Bank of America, Walgreens Boots Alliance, Wells Fargo, Morgan Stanley, Citigroup and Goldman Sachs will release their results during the week.
The improvement for the aviation giant
After today’s fall, the US stock market has closed for the past two days.
Many market participants are citing concerns about rising energy prices, the possibility that this will reduce the purchasing power of consumers and may lead to a recession.
The price of US West Texas Intermediate crude rose 0.41 percent to $80.5 a barrel, after hitting a seven-year high on Monday.
American Airlines rose 0.7 percent after steering a negative third-quarter adjusted net profit of $620-675 million, compared to the Refinitive consensus of $742 million.
The airline expects a decline in business volume of about 25 percent compared to the same period in 2019, compared to previous guidance for a 24-28 percent decline in business volume.
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