By Angus Berwick
After a flurry of tariff news, an old reliable - earnings season - is back in the spotlight. Investors are poring over results from Google parent Alphabet and chip maker Advanced Micro Devices, which each disappointed investors.
The S&P 500 and Nasdaq Composite fell Wednesday morning, while the Dow industrials were little changed. Major indexes had rebounded Tuesday, clawing back most of the previous session's losses, despite the escalating U.S.-China trade war.
China's response to U.S. tariffs was considered by Wall Street to be fairly tame, with new levies imposed on a slim slice of American goods. Some analysts cautioned, however, that investors might be underestimating the risk of a lengthier trade spat.
In recent market action:
Earnings drove some big moves. Shares in Alphabet, AMD and Uber all fell sharply, while Mattel stock jumped.
U.S. Treasury yields edged lower, after the 10-year note settled Tuesday at 4.511%. The Treasury said it wasn't planning to step up debt issuance anytime soon.
Chinese stock indexes saw small losses. Benchmarks in mainland China reopened after a long New Year break.
Bitcoin prices fell to around $99,000.
Write to Angus Berwick at angus.berwick@wsj.com
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(END) Dow Jones Newswires
February 05, 2025 09:39 ET (14:39 GMT)
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