- Boeing announces biggest quarterly loss in a decade to weigh on industrials.
- Caterpillar continues to feel the negative impact of trade conflict.
- Technology shares post small gains at opening bell.
Major equity indexes in the US started the day in the negative territory on Wednesday as dismal earnings figures revived concerns over an economic slowdown in the second half of the year. As of writing, the Dow Jones Industrial Average was down 0.4% on the day while the Nasdaq Composite and the S&P 500 were both losing 0.15%.
Boeing shares started the day more than 1% lower after the company reported the largest quarterly loss in a decade amid the uncertainty surrounding the 737 Max aircraft. In the meantime, industrial-giant Caterpillar reported a drop in its quarterly earnings and said the demand in Asia was weakening, causing its shares to erase nearly 5% today.
The S&P 500 Industrials and Materials indexes both started the day in the negative territory following these reports. On the other hand, the Energy and the Technology indexes are posting modest gains in the early trade to limit the major indexes’ losses.
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