Friday, 17 April 2015

Wall Street Ends Slightly Lower As Earnings Worries Linger

Posted by suhani varma on Friday, April 17, 2015 with No comments

US stocks ended marginally lower on Thursday 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 on Friday before the start of trading. The S&P 500's top gainer, Netflix, closed 18.21 percent higher a day after the video streaming service posted better-than-expected results.

Shares of Etsy Inc, an online marketplace for handmade goods and crafts, finished 87.5 percent higher and private-equity backed Party City's stock jumped 21.77 percent in their IPOs. The stock of electronic trading firm Virtu Financial Inc closed 16.74 percent higher in its market debut in a sign that public angst over high-frequency trading is waning. The Dow Jones industrial average fell 6.84 points, or 0.04 percent, to end at 18,105.77. The S&P 500 lost 1.64 points, or 0.08 percent, to 2,104.99 and the Nasdaq Composite dropped 3.23 points, or 0.06 percent, to 5,007.79.

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