Wall Street’s main indexes closed relatively unchanged as investors parsed more mixed first-quarter earnings results
gained most among S&P 500 sectors, rising 0.8%., also known as Wall Street's fear gauge, fell to its lowest point since November 2021 during the session.
Investors are looking for signs in corporate results that inflation may be driving up costs or hurting consumer spending, amid fears the economy may be on the cusp of a downturn. S&P 500 companies overall are expected to post a 4.8% decline in first-quarter earnings from the year-earlier period, according to Refinitiv IBES.
"We seem stuck in this range, with those people who think that there is going to be a recession coming and those people who think there is going to be a soft landing," said Rick Meckler, partner at Cherry Lane Investments.
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