US stock indices edge lower, but Dow Jones ekes out gains

Economies.com
2024-04-16 15:00PM UTC

Most US stock indices lost ground on Tuesday with the exception of Dow Jones, amid a constant flux of corporate earnings results for the first quarter.

 

Earlier US data showed industrial output rose 0.4% in March as expected, after falling 1.8% in the first quarter of the year.

 

US 10-year treasury yields rose by 4.5 basis points to 4.674%, after touching 4.696%, the highest since early November. 

 

Two-year treasury yields rose by 2.5 basis points to 4.961%, while 30-year yields rose by 5 basis points to 4.788%. 

 

San Francisco Fed President Mary Daly said there’s no urgent need to cut interest rates, warning from taking rash decisions. 

 

Separately, the International Monetary Fund raised its global growth forecast by 0.1% to 3.2%, while expecting the US economy to grow by 2.7% this year. 

 

The IMF expects the US to register an annual growth rate of 2.7%, up from 0.6% in latest forecasts. 

 

On trading, Dow Jones rose 0.1%, or 40 points as of 14:58 GMT to 37,775, while S&P 500 fell 0.3%, or 14 points to 5,047, as NASDAQ fell 0.2%, or 34 points to 15,850. 

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