Wall Street Weakens, Markets Worried Iran & Walmart's
US stocks weakened on Thursday (February 19), paring some of the previous session's gains, as investors weighed the latest earnings reports and monitored US-Iran tensions, which have rekindled market caution. Risk-off sentiment has led investors to reduce exposure to riskier assets ahead of upcoming geopolitical developments.
Index-wise, the Dow Jones Industrial Average fell 185 points, or 0.4%, the S&P 500 fell 0.3%, and the Nasdaq Composite fell 0.4%. This correction indicates the market is starting to lock in profits after the previous rally, while awaiting new catalysts from data and geopolitical headlines.
On the corporate side, Walmart rose around 2% after its fourth-quarter performance exceeded analyst expectations. However, gains were restrained because the company's full-year profit projection fell below estimates, signaling that consumer and margin weakness could still weigh on retail performance going forward.
Source: Newsmaker.id