Last Update: April 19, 2023, 04:07 IST
The broad-based S&P 500 rose 0.1 percent to 4,154.87, while the tech-rich Nasdaq Composite index closed less than 0.1 percent at 12,153.41. (Image: Reuters file)
Bank of America climbed 0.6 percent after reporting higher profit due to a boost from higher interest rates
Wall Street stocks were little changed on Tuesday after a flat day of mixed bank earnings and good Chinese economic data.
Bank of America climbed 0.6 percent after reporting a higher profit due to a boost from higher interest rates, while Goldman Sachs fell 1.7 percent due to a slowdown in corporate mergers.
“We’re not seeing a real shock from the banking sector, but traders are picking some winners and losers,” said Steve Sosnik of Interactive Brokers.
Analysts also pointed to a reading of Chinese economic growth coming in at 4.5 percent in the first quarter, much higher than the 3.8 percent forecast by analysts in an AFP poll.
The Dow Jones Industrial Average closed less than 0.1 percent lower at 33,976.63.
The broad-based S&P 500 rose 0.1 percent to 4,154.87, while the tech-rich Nasdaq Composite index closed less than 0.1 percent at 12,153.41.
Among individual companies, Southwest Airlines fell 0.8 percent after temporarily suspending US departures because of an information technology problem.
Boeing advanced 1.6 percent after the company reaffirmed its plans to ramp up production on the 737 MAX, while problems on the supplier’s part have delayed some deliveries.
Nvidia jumped 2.5 percent after an upgrade from HSBC Securities, which cited an “incredible” opportunity for the company to exercise “pricing power” on chips involving artificial intelligence.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
