Traders work on the floor of the New York Stock Exchange in New York City, U.S., August 15, 2023. REUTERS/Brendan McDermid/File PhotoBofA profit rises, Goldman Sachs profit plunges in Q3NEW YORK, Oct 17 - U.S. stocks ended flat to lower on Tuesday as Treasury yields rose and shares of chipmakers fell after the, even though the world's most valuable chipmaker said it does not expect a near-term meaningful impact on financial results from the curbs.
U.S. Treasury yields rose on robust economic data. Higher yields dull the allure of stocks by offering investors comparatively high income on risk-free government bonds. "We had some pretty good earnings from most of the major companies reporting today... but the indices are running up a brick wall as yields go higher," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.earlier showed U.S. retail sales increased more than expected in September as households stepped up purchases of motor vehicles and spent more at restaurants and bars.
Investors also are still anxiously watching news on the Middle East. An Israeli air strike killed about 500 Palestinians at a Gaza City hospital, whileis set to visit Israel Wednesday to show support for the country in its war with Hamas, which rules the Gaza Strip.
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