U.S. stocks slip on disappointing earnings reports
Street signs under scaffolding near the New York Stock Exchange on Oct. 14, 2016. Credit: Bloomberg News / Michael Nagle
Stocks ended lower on Wall Street, giving back the modest gains they made the day before. Trading was mostly listless Thursday as investors waded through another round of company earnings news. Telecom sector stocks declined the most, while health care companies eked out small gains.
ON WALL STREET: At the close, the Dow Jones industrial average was down nearly 40.3 points, about 0.2 percent, at 18,162.4. The Standard & Poor’s 500 index lost nearly 3 points, about 0.1 percent, to 2,141.3. The Nasdaq composite declined 4.6 points, about 0.09 percent, to 5,241.8.
BOND PRICES: Bond prices didn’t move much. The yield on the 10-year Treasury note held steady at 1.75 percent.
OIL PRICES: As markets closed, the price of U.S. benchmark crude was down $1.23 at $50.59 a barrel in trading on the New York Mercantile Exchange. In London, the price of Brent crude, the international benchmark, was down $1.30 at $51.37 a barrel.
