US Equities Markets End Mixed Tuesday as Earnings Season Kicks In

MT Newswires Live
16 Apr

US benchmark equity indexes ended mixed Tuesday as companies continued to report financial results.

* Bank of America's (BAC) Q1 results surpassed Wall Street's projections, and the lender said it doesn't forecast a US recession this year. Shares jumped 3.4%.

Citigroup (C) also logged stronger-than-expected Q1 results buoyed by double-digit revenue gains in equity trading and investment banking. The company's shares rose 1.8%.

* The New York Federal Reserve's Empire State manufacturing index improved to minus 8.1 in April from minus 20 in March, compared with an expected improvement to minus 13.5 in a survey compiled by Bloomberg. The print is among the first manufacturing-sector readings for April, suggesting a slower pace of contraction.

* The CBOE Volatility Index, also known as the fear index, fell 3% to 29.95, declining for a second consecutive day after surging past 50 last week in the aftermath of the Trump administration's tariff declarations.

* May West Texas Intermediate crude oil closed up $0.04 to settle at $61.57 per barrel, while June Brent crude, the global benchmark, was last seen down $0.03 to $64.85 after the International Energy Agency slashed its 2025 demand-growth forecast on slowing global growth amid U.S. President Donald Trump's tariff wars.

* Boeing (BA) was down 2.2%. China has ordered its airlines not to take any further deliveries of Boeing planes amid an ongoing trade war between the US and China, Bloomberg News reported, citing sources.

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