Wall Street slips as bank earnings, Donald Trump trade comments weigh

Money Control | Jul 17, 2019 at 7:51 AM
  • US stocks edged lower on Tuesday as quarterly results from banks added to concerns about lower interest rates dampening their profits, while comments from U.S. President Donald Trump on trade also dragged down Wall Street’s major indexes.
  • JPMorgan Chase & Co and Wells Fargo & Co beat quarterly profit estimates but reported weaker net interest income, pointing to rising deposit costs.
  • The rise in J.B. Hunt shares helped lift the Dow Jones Transportation Average 1.8% and aided a 0.7% rise in industrials .