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Wall Street’s major indexes briefly pared some gains after the British parliament defeated Prime Minister Theresa May’s Brexit divorce deal by a wide margin. The rejection of the deal could lead to a disorderly exit from the European Union or even to a reversal of the 2016 decision to leave the EU. The S&P 500 and the Nasdaq still closed near the session’s highs, however letter d cufflinks. “No one was expecting anything great from the Brexit outcome,” said Keith Lerner, chief market strategist at SunTrust Advisory Services in Atlanta. “The market was able to shrug this off.”..
The Dow Jones Industrial Average .DJI rose 155.75 points, or 0.65 percent, to 24,065.59, the S&P 500 .SPX gained 27.69 points, or 1.07 percent, to 2,610.3 and the Nasdaq Composite .IXIC added 117.92 points, or 1.71 percent, to 7,023.83. Earlier in the day, gains were capped by disappointing earnings reports from big U.S. banks. JPMorgan Chase & Co (JPM.N), the largest U.S letter d cufflinks. bank by assets, missed quarterly profit estimates due to a slump in bond trading revenue, while Wells Fargo & Co (WFC.N) said its loan book shrank and quarterly revenue fell in all of its major businesses..
JPMorgan shares erased the early losses and ended 0.7 percent higher. Wells Fargo shares pared losses to end 1.5 percent lower. Health insurer UnitedHealth Group (UNH.N) jumped 3.6 percent and was the top gainer on the Dow after reporting better-than-expected quarterly profit letter d cufflinks. UnitedHealth shares helped boost the S&P 500 healthcare index 1.7 percent. Analysts expect S&P 500 profits to have grown 14 percent in the fourth quarter, much lower than the 20.1 percent growth forecast in October, according to IBES data from Refinitiv..
(Reuters) – PG&E Corp’s shares and bonds fell sharply for a second day on Tuesday, as a failure to make interest payments by the California power utility added to investor nerves following the company’s plans to seek Chapter 11 bankruptcy protection letter d cufflinks. The state’s biggest private utility’s shares have lost 71 percent of their value since the start of January, when the company began exploring options for protection from claims its equipment was responsible for California’s catastrophic wildfire in November..
PG&E’s shares lost 52 percent of their value on Monday after the company said it was preparing to file for Chapter 11 protection, and they closed down 18 percent on Tuesday. PG&E missed interest payment of about $21.6 million of its 2040 bond due Tuesday, per regulatory filing and the company said it has a 30-day grace period to make the interest payment. California politicians are in a quandary over whether to offer a bailout or risk allowing the state’s largest private utility to fail letter d cufflinks.