US Stocks Unaffected by Morgan’s Poor Results

January 17, 2019 Share Print 0

Wall Street’s main indexes fought back from a weak start to hover near one-month highs on Thursday, as gains in healthcare and consumer discretionary stocks offset losses in the energy and financial sectors.

U.S. stock futures were under pressure for most of the session and the market even opened lower due to disappointing earnings from Morgan Stanley and renewed concerns over the progress of Sino-U.S. trade talks.

Morgan Stanley (MS.N) tumbled 6.3 percent after reporting a lower-than-expected quarterly profit as spikes in volatility in the end of the fourth quarter hurt trading.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.