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GLOBAL MARKETS-Stocks, dollar mostly flat on soft data, corporate outlooks

Mount Equity Group Tokyo Japan > News > Markets > GLOBAL MARKETS-Stocks, dollar mostly flat on soft data, corporate outlooks

(Adds closing prices, Microsoft results)

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Dow 0.3%, S&P -0.1%, Nasdaq -0.3%

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Microsoft beats estimates in closely watched results

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Corporate bellwethers report mixed results

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U.S. business activity contracts

By Herbert Lash and Alun John

NEW YORK/LONDON, Jan 24 (Reuters) – U.S. stock indexes closed mixed and the dollar slid a bit on Tuesday after companies warned of a tough year ahead along with some profit beats, while data showed U.S. business activity contracted for a troubling seventh straight month in January.

S&P Global’s Flash U.S. Composite Output Index last month rose to 46.6, below a reading of 50 where growth begins. Companies reported soft demand amid still high inflation that remains a headwind to customer spending, the report showed.

Real GDP growth is likely to turn negative in the first half of 2023, said Bill Adams, chief economist for Comerica Bank in Dallas, in a note.

“The economy still might dodge a recession,” he wrote….

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