U.S. stocks experienced mixed trading as Wall Street's recent rally began to lose momentum. The S&P 500 saw minor declines, particularly under pressure from Intel, which warned of industry uncertainty. Several companies, including Eastman Chemical and Skechers U.S.A., faced declining stock prices after issuing forecasts that missed analysts' expectations due to ongoing macroeconomic difficulties influenced by global trade policies. Earlier, there had been some optimism spurred by indications that President Trump might soften his approach on tariffs, yet the unpredictable nature of these policies continues to affect investor sentiment.
Intel's warning of 'elevated uncertainty across the industry' impacted its stock, decreasing 6.8% after it provided a disappointing profit forecast despite beating early year earnings expectations.
Eastman Chemical's forecast fall short of analysts' expectations led to a 5.9% drop in its stock, echoing concerns over rising macroeconomic uncertainties and deepening tariff impacts.
Skechers U.S.A. withdrew its yearly financial forecasts due to 'macroeconomic uncertainty stemming from global trade policies', despite achieving a record revenue of $2.41 billion last quarter.
Market optimism earlier in the week was fueled by signals of a potential softening in Trump's tariff strategy, which had previously rattled investor confidence.
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