Earnings fears hit US stocks – New York Report
US STOCKS ended marginally lower yesterday as lingering worries about upcoming corporate earnings reports offset enthusiasm about a trio of soaring Wall Street debuts.
Weighing on the S&P 500 were Apple and General Electric, which is expected to report its first-quarter results today before trading begins.
Netflix closed 18.21 per cent higher after the video streaming service posted better-than-expected results.
Shares of Etsy, an online marketplace for handmade goods, finished 87.5 per cent higher and Party City’s stock jumped 21.77 per cent in their IPOs.
The Dow Jones industrial average fell 6.84 points, or 0.04 per cent, to end at 18,105.77. The S&P 500 lost 1.64 points, or 0.08 per cent, to 2,104.99 and the Nasdaq dropped 3.23 points, or 0.06 per cent, to 5,007.79.