Tuesday on Wall Street was marked by a subdued trend in major equity indices as investors remained cautious ahead of key inflation data scheduled for release on Thursday and the kick-off of the earnings season.
The four major US banks are expected to beat or match market forecasts in Q4 earnings, but challenges remain in 2024 due to global economy, tech adoption and more.
Wall Street kicked off the week on a positive note, marking a turnaround from the challenging start to the year. All major stock indices showed gains, except for the Dow Jones, as financial conditions showed signs of improvement.
The Federal Reserve Bank of New York's December 2023 Survey of Consumer Expectations revealed declining inflation expectations and varied economic sentiment.
U.S. oil and gas sector stocks fell 3%-4% Monday, alongside a 5% drop in oil and 6% in natural gas prices, amid waning demand and increasing production.
Corporate outlooks for 2024 could decide whether market rally resumes in JanuaryEquity markets remain under pressure as investors await 4th-Q earnings to guide whether November-December rally can be resumed.
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