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Wall Street Pulls Back: Profit Hopes Clash with Mixed Earnings
14 Jan
Summary
- US stocks retreated from records as earnings season began with mixed results.
- JPMorgan Chase missed profit expectations, weighing on market sentiment.
- Moderna's strong forecast and healthcare sector gains offered some market optimism.

US equity markets experienced a pullback from recent record highs on Tuesday, influenced by a cautious start to the latest corporate earnings season. The S&P 500, Dow Jones Industrial Average, and Nasdaq composite all saw declines following a mixed performance from major companies. Investors are scrutinizing results for signs of robust profit growth needed to sustain elevated stock valuations.
JPMorgan Chase initiated the reporting period with profit and revenue figures that fell short of analyst expectations, leading to a 4.2% drop in its stock. Despite this setback, CEO Jamie Dimon expressed optimism about the US economy, noting continued consumer spending and healthy businesses. Delta Air Lines also faced headwinds, with revenue missing targets despite a stronger profit than anticipated.




