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U.S. Stocks Wobble, Lose Steam on Recession Fears

Published 07/12/2022, 09:45 AM
Updated 07/12/2022, 09:49 AM
© Reuters.

By Liz Moyer

Investing.com -- U.S. stocks struggled to hold onto earlier gains Tuesday as investors were unable to shake off the recessionary fears that have been building for weeks.

By 10:50 AM ET, the Dow Jones Industrial Average was up 68 points, or 0.2%, while the S&P 500 was down 0.1% and the NASDAQ Composite was down 0.4%.

Still, investors appeared to embrace assets with lower risk than stocks, such as Treasury bonds and the U.S. dollar. The 10-year Treasury yield fell 7 basis points, to 2.92%. The dollar index rose to just over 108, near another multi-decade peak, and the euro and dollar approached parity.

Twitter Inc (NYSE:TWTR) shares rose 2.5% after lawyers for the social media company said the $44 billion deal with Elon Musk was still on and that Musk’s attempt to terminate it was invalid.

PepsiCo Inc (NASDAQ:PEP) shares rose nearly 1% after the company raised guidance for the full year. 

Gap Inc (NYSE:GPS) shares fell 6% after the CEO stepped down after just two years on the job.

Oil fell. Crude Oil WTI Futures was down 7%, to $96.95 a barrel, while Brent Oil Futures crude fell 6.5%, to $100.06 and Gold Futures was down 0.2%, to $1,728.

Latest comments

i think gold is going down to
i think corporate give all these negative prediction to keep away the retail investors from making money.have been in market for 18 months have noticed mostly whatever they say the opposite happens.
where is inflation.cheating people.All the commodity are three years low price
news are creating havoc rather than actual economy. Every Tom Dick Harry is giving world economy doomsday prediction and creating false market uncertainty. Unfortunately Government is also shaky, how can all economy run into recession at once.
Despite everything it seems. Kudos FED
Breaker set to fire every time the DOW tries to go negative.  Flagrant, criminal intervention at its finest.  And folks wonder why investors from around the world are dying of laughter watching this joke of a "market" operate in broad daylight.
This is true. I was at a meeting of the cabal last night and everyone except for Jimmy Kimmel agreed where we should set the breaker.
don't buy us stock market share
Big red ink tomorrow. I'll be here to pick up shares.
Market rises due to rising market.
aren't you sick and tired about recession??? keep repeating on recession and creating fear. If it's here, just let it be and live with it. move on and look forward
its the only way they can buy in low price... this world is work like that
And the fraud continues.  Another miraculous opening "recovery," followed by the flagrantly predictable breaker firing at 10AM.  What a criminally manipulated JOKE.  Another day of criminal comedy in the laughingstock of the investing world.
This is true. I was at a meeting of the cabal last night and George Soros said, "Who ate all the pizza?" Then he said, "Hey, why don't we set the breaker before 10 to try to catch some more suckers?" Everybody except for Jimmy Kimmel agreed.
Jimmy is a PIA. Last time we got together to eat babies under the pizza place, he orders freaking chicken wings and I was stuck with the bill!
Yeah, he did that to me too! But then he gave me a ride back to the lair, so he's not all bad.
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