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U. S. stocks combined on Tuesday as new COVID-19 brakes in China revived fears about growth.
Benchmark oil costs in the U. S. fell below $100 a barrel and the euro reached parity with the dollar.
Earnings season began with PepsiCo beating quarterly prospects and broadening its full-year outlook.
EE. UU. se shares combined on Tuesday, as new COVID-19 launches in China revived fears about global growth, while earnings season started on a positive note.
Several cities in China have put in place new restrictions to curb coronavirus cases. This dispelled hopes for a rapid rebound after major economic centers such as Shanghai eased shutdowns earlier.
Meanwhile, earnings season for second-quarter effects began with PepsiCo beating quarterly prospects and broadening its full-year outlook. Report from Delta Air Lines, JPMorgan Chase, Morgan Stanley and Citigroup later this week.
This is where the U. S. tracks were. Shortly after the opening bell at 9:30 a. m. Tuesday:
S
Dow Jones Industrial Average: 31,125. 06, down 0. 16% (48. 78 points)
Nasdaq Composite: 11,439. 68, up 0. 56%
The euro hit precisely $1 for the first time in 20 years on Tuesday, after Germany’s business climate hit its lowest point in 10 years. The euro has already lost about 12% of its value against the dollar this year.
Bill Ackman says he will return $4 billion to investors in Pershing Square Tontine Holdings after failing to close a merger deal within two years for PSPC.
The price of oil could rise 40% to $140 a barrel if Russian crude exceeds the proposed price cap, a senior U. S. Treasury official said Tuesday. USA
Oil fell as fears of a recession accelerated. West Texas Intermediate crude fell 4. 2% to $99. 71 a barrel. Brent, the foreign benchmark, lost 4% to $102. 81.
Gold lost less than 0. 1% to $1,730. 70 an ounce. The 10-year Treasury yield fell 7. 2 core issues to 2. 919%.
Bitcoin fell 2. 8% to $19,902.
Read the article on Business Insider