ZCZC
BCN-14
US-STOCKS-MARKETS
US stocks dip ahead of earnings from tech giants
NEW YORK, April 25, 2019 (BSS/AFP) – Wall Street stocks pulled back from
records Wednesday following mixed earnings ahead of results from large
technology companies.
The Dow Jones Industrial Average dipped 0.2 percent to finish at
26,597.05.
The broad-based S&P 500 also shed 0.2 percent to close at 2,927.26, as did
the tech-rich Nasdaq Composite Index, which ended at 8,102.01.
The S&P 500 and Nasdaq finished at records on Tuesday following a rally
fed by a group of strong earnings reports.
The reports out Wednesday were somewhat weaker and came ahead of much-
anticipated results from tech giants such as Amazon, Facebook and Microsoft.
“There might have been some hesitancy to take a position ahead” of tech
earnings, said Karl Haeling of LBBW. “It seems like a little pause.”
Among companies reporting, Caterpillar slumped 3.1 percent, Boeing gained
0.4 percent, AT&T shed 4.1 percent and eBay won 5.1 percent.
Anadarko Petroleum surged 11.6 percent after Occidental Petroleum went
public with a proposal to buy the oil company for $76 a share, topping the
$65 per share agreed by Anadarko and Chevron earlier this month. Occidental
lost 0.6 percent, while Dow-member Chevron fell 3.1 percent.
Goldman Sachs dropped 1.8 percent following a Financial Times report that
the US Justice Department was pushing for a guilty plea from the investment
bank as part of its criminal probe of Goldman’s role in the 1MDB scandal.
BSS/AFP/HR/0952