NEW YORK, July 25 — Wall Street stocks were mixed early today ahead of a deluge of major corporate earnings reports, a Federal Reserve decision and key economic data this week.
The unusually news-jammed stretch includes earnings from Apple, Amazon and other tech giants and another expected interest rate hike from the Fed as it seeks to counter inflation.
The government is also set to release its first estimate of second-quarter growth. If the report shows a contraction, that would meet at least one technical definition of a recession: two consecutive quarters of negative growth.
About 25 minutes into trading, the Dow Jones Industrial Average was up 0.3 per cent at 31,994.80.
The broad-based S&P 500 added 0.1 per cent at 3,966.57, while the tech-rich Nasdaq Composite Index declined 0.2 per cent to 11,810.84.
After a dreary first half of 2022 amid worries over inflation and tightening monetary policy, investors hope for a turnaround in the second half of the year, a sentiment boosted by last week’s gains. — AFP
