Wall Street closing – Fed hike and corporate earnings deter Bulls

FXStreet (Guatemala) – Wall Street was a lackluster session with little to muster from an expected improvement in the Q2 GDP for the US and a mixed bag of Corporate Earnings.

The US economy missed expectation on the GDP results for Q2, although was a darned site better that the Q1 suggesting steady momentum that could bring the Federal Reserve closer to hiking interest rates this year. Some analysts are becoming more confident on a hike as early as September.

At this juncture, there is little to go on though for investors that would incline buyers to invest in stocks while with already 64 percent of the S&P 500 companies having reported second-quarter results, according to Thomson Reuters data, analysts expect overall earnings to edge up 1 percent and revenue to decline 3.6 percent coupled with headwinds of a Fed hike.

The S&P 500 companies finished flat at 2109 while the Dow Jones Industrial Average was down just -3pts at 17747 and the Nasdaq was up 18 points to 5129.

Wall Street was a lackluster session with little to muster from an expected improvement in the Q2 GDP for the US and a mixed bag of Corporate Earnings.

(Market News Provided by FXstreet)