By Karen Brettell and Sruthi Shankar
July 28 (Reuters) - U.S. stocks were mixed on Tuesday ahead of key corporate earnings releases and the Federal Reserve's highly anticipated interest rate decision on Wednesday.
World stocks had earlier fallen to a one-month low as investors dumped chipmakers on concerns about Chinese competition and the funding of the AI boom, but pared the drop during New York trading hours.
Gains in Boeing and Coca-Cola helped offset tumbling chip stocks ahead of quarterly reports from Apple and other tech companies this week, though the tech-heavy Nasdaq Composite ended lower on the day.
"What has been behind the move into these non-tech names? Part of it is value," said Ross Mayfield, investment strategy ****** yst at Baird in Louisville, Kentucky. "GDP is solid, the labor market continues to churn along and, in a lot of places, there's evidence that consumer spending is reaccelerating."
#Tech #sruthi
July 28 (Reuters) - U.S. stocks were mixed on Tuesday ahead of key corporate earnings releases and the Federal Reserve's highly anticipated interest rate decision on Wednesday.
World stocks had earlier fallen to a one-month low as investors dumped chipmakers on concerns about Chinese competition and the funding of the AI boom, but pared the drop during New York trading hours.
Gains in Boeing and Coca-Cola helped offset tumbling chip stocks ahead of quarterly reports from Apple and other tech companies this week, though the tech-heavy Nasdaq Composite ended lower on the day.
"What has been behind the move into these non-tech names? Part of it is value," said Ross Mayfield, investment strategy ****** yst at Baird in Louisville, Kentucky. "GDP is solid, the labor market continues to churn along and, in a lot of places, there's evidence that consumer spending is reaccelerating."
#Tech #sruthi
3 months ago
