Wall Street’s main indexes fought back from a weak start to hover near one-month highs on Thursday, as gains in healthcare and consumer discretionary stocks offset losses in the energy and financial sectors.
U.S. stock futures were under pressure for most of the session and the market even opened lower due to disappointing earnings from Morgan Stanley and renewed concerns over the progress of Sino-U.S. trade talks.
Morgan Stanley (MS.N) tumbled 6.3 percent after reporting a lower-than-expected quarterly profit as spikes in volatility in the end of the fourth quarter hurt trading.
via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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