Wall Street Falls Despite Strong Corporate Earnings

By andreyS - on April 25, 2018

US stocks extend previous session’s losses and European bourses fall after earnings set cautious tone. Euro sliding below $1.22 as dollar strengthens. 10-year Treasury yield at 3.02%. A raft of earnings disappointments and the 10-year US Treasury yield touching the psychological barrier of 3.0% for the first time in four years rattled investor sentiment. The S&P 500 has extended an opening decline, to stand 0.6% lower at 2,618, in spite of a more upbeat outlook from Boeing, as worries emanating from Caterpillar’s quarterly figures and Alphabet’s capital spending keep the mood jittery.

The Dow Jones Industrial Average is also down 0.6% and the Nasdaq Composite is 1% lower. The S&P 500 has extended an opening decline, to stand 0.6% lower at 2,618, in spite of a more upbeat outlook from Boeing, as worries emanating from Caterpillar’s quarterly figures and Alphabet’s capital spending keep the mood jittery. The Dow Jones Industrial Average is also down 0.6 per cent and the Nasdaq Composite is 1% lower.

On the earnings front, Facebook (NASDAQ:FB), AT&T (NYSE:T), Visa Inc (NYSE:V), Advanced Micro Devices Inc (NASDAQ:AMD),Ford Motor Company (NYSE:F) and eBay Inc (NASDAQ:EBAY) will report later in the day while Boeing (NYSE:BA) is expected to report before the morning bell.

Twitter jumped 10.56% in pre-market trading after it reported a $0.16 in earnings per share versus $0.12 expected and a monthly user increase of 3.00%.

 

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