Morning Report 16 July 19: Investors tread warily ahead of US earnings reports

 

US sharemarkets rose to fresh record highs on Monday, but investors were cautious ahead of the start of the corporate earnings season. Citigroup (-0.1%) reported a better-than-expected profit, kicking off earnings for major US lenders. But Citi also reported a decline in interest margins, which weighed on shares of JPMorgan (-1.2%) and Goldman Sachs (-1.1%). Boeing shares fell by 1.0% on a report that the 737 Max jet may stay grounded until early 2020. Symantec shares fell by 10.7% and was the top loser on the S&P500 index after a report that the cybersecurity company and Broadcom (+1.0%) have ceased deal talks. The Dow Jones closed up by 27 points or 0.1%. The S&P500 was flat and the Nasdaq rose by 14 points or 0.2%.

 

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