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Wall Street declines as some post-election gainers reverse

Traders work on the floor of the NYSE in New YorkBy Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks fell on Tuesday, with financials, transports and other big post-election gainers losing ground as earnings season kicked into gear. Also weighing on stocks were concerns about protectionist trade policies by U.S. President-elect Donald Trump, which pushed the dollar the dollar to its lowest level in more than a month and bond yields down as investors cut risk. The S&P 500 financial index , which has rallied since the election on expectations of higher interest rates and reduced regulation under Trump, had its worst day since June 27 and led sector losses.


Wall Street declines as some post-election gainers reverse

Traders work on the floor of the NYSE in New YorkU.S. stocks fell on Tuesday, with financials, transports and other big post-election gainers losing ground as earnings season kicked into gear. Also weighing on stocks were concerns about protectionist trade policies by U.S. President-elect Donald Trump, which pushed the dollar the dollar to its lowest level in more than a month and bond yields down as investors cut risk. The S&P 500 financial index , which has rallied since the election on expectations of higher interest rates and reduced regulation under Trump, had its worst day since June 27 and led sector losses.


CSX profit dips but meets Wall Street expectations

A CSX freight train heads westbound out of a tunnel into Harpers Ferry, West VirginiaNo. 3 U.S. railroad CSX Corp on Tuesday reported a slight dip in quarterly net profit, in results that met Wall Street analyst expectations, and said conditions for its business were improving after taking a hit from low commodity prices and a strong U.S. dollar. CSX reported a slight increase in coal freight volumes in the fourth quarter from a year earlier after nearly two years of decline which have pummeled the U.S. railroads. Analysts had expected earnings per share of 49 cents.


Scaramucci's fund struggles to bring top returns to the masses

Scaramucci Assistant to US President-elect Trump attends the WEF annual meeting in DavosOne of President-elect Donald Trump's top liaisons to Wall Street's business elite launched a mutual fund three years ago for mom-and-pop investors that lags most of its peers. Hedge fund impresario Anthony Scaramucci, 53, has secured a top White House job as an adviser and public liaison to government agencies and businesses.


Trump, Brexit uncertainty hit stocks and dollar, gold jumps

A trader works on the floor of the NYSE in New YorkBy Sinead Carew NEW YORK (Reuters) - U.S. stocks and the dollar fell while gold and government bonds rose on Tuesday as investors fled for safety after President-elect Donald Trump said the U.S. currency was too strong and they also questioned if his campaign promises would be fulfilled. Meanwhile sterling jumped as Prime Minister Theresa May said Britain would quit the European Union single market when the country leaves the EU. Wall Street was weighed down by the financial sector, and U.S. Treasury prices gained on concerns about protectionist trade policies from Trump who has talked about slamming hefty taxes on importers of goods such as cars.


Morgan Stanley's profit doubles on bond-trading surge

Corporate logo of financial firm Morgan Stanley in New York, New YorkMorgan Stanley's profit doubled in the fourth quarter as trading activity surged across Wall Street, and the bank said it was on track to reach a number of financial goals set out by Chief Executive James Gorman. In announcing earnings on Tuesday, Morgan Stanley detailed huge gains in bond trading, an area where it has long struggled. The bank also reported stronger revenue in equities trading, where Morgan Stanley is typically a leader, and said it was close to hitting targets for cost-cutting, wealth management profits and returns on shareholder equity.


Morgan Stanley's profit doubles on bond-trading surge

FILE PHOTO - Corporate logo of financial firm Morgan Stanley in New York, New YorkMorgan Stanley's profit doubled in the fourth quarter as trading activity surged across Wall Street, and the bank said it was on track to reach a number of financial goals set out by Chief Executive James Gorman. In announcing earnings on Tuesday, Morgan Stanley detailed huge gains in bond trading, an area where it has long struggled. The bank also reported stronger revenue in equities trading, where Morgan Stanley is typically a leader, and said it was close to hitting targets for cost-cutting, wealth management profits and returns on shareholder equity.


Trump, Brexit uncertainty hit stocks and dollar, gold jumps

Traders work on the floor of the NYSE in New YorkU.S. stocks and the dollar fell while gold and government bonds rose on Tuesday as investors fled for safety after President-elect Donald Trump said the U.S. currency was too strong and they also questioned if his campaign promises would be fulfilled. Meanwhile sterling jumped as Prime Minister Theresa May said Britain would quit the European Union single market when the country leaves the EU. Wall Street was weighed down by the financial sector, and U.S. Treasury prices gained on concerns about protectionist trade policies from Trump who has talked about slamming hefty taxes on importers of goods such as cars.


 
 
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