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Wall ‍Street’s ​main indexes fell ⁠at the open on Wednesday as investors digested ‌earnings ‌from Bank of America ‌and Citigroup, while retail sales and producer price data did little ​to ​alter expectations for ‌interest-rate ‍cuts later this ‍year.
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Copper prices hit a record on Wednesday ‍on persistent demand from speculative ​funds, but some investors were wary that the high prices would deter ⁠buying by industrial users.
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US bank stocks fell as investors digested mixed earnings from major lenders and concerns over a proposed credit card interest cap, which could pressure profitability, despite strong loan growth and optimism about longer-term lending momentum.
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Minneapolis Federal ‍Reserve President Neel Kashkari did ​not want to cut interest rates last month ⁠and sees no need to cut them any time soon given labor market resilience and inflation above the Fed’s target, the New York Times reported on ‌Wednesday.
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Infosys ADRs fell as December-quarter results showed modest profit decline and sharp margin pressure, offset by strong revenue growth and an upgraded FY26 guidance, reassuring investors despite cost headwinds, labour code impact and near-term seasonal softness in global IT markets.
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