For a second day in a row, U.S. equities slumped as a slew of lackluster first quarter earnings reports hit the street. On the earnings front, Morgan Stanley (MS) reported disappointing bond-trading results, while UnitedHealth Group (UNH) also missed the marks on revenue expectations, but slightly beat analysts’ earnings forecasts. Telecom company Verizon Communications (VZ) also posted revenue that came in shy of analyst estimates, but managed to beat earnings expectations. In economic news, jobless benefits rose for the forth time in five weeks, while the Federal Reserve of Philadelphia’s index of general business activity slowed in April [see Free Member Report: How To Pick The Right ETF Every Time]. Global Market Overview: IHF And XLK Slump On Lackluster Earnings Following today’s disappointing earnings and economic reports, all three major U.S. equity indexes fell into negative territory. The Dow Jones Industrial Average ETF slid 0.53%, as its underlying index slumped 81.45 points. The S&P 500 ETF fell 0.63%, while [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Stocks Close Near Session Highs Daily ETF Roundup: Health Care Stocks Push Indexes To New Highs Daily ETF Roundup: Stocks Rally On Positive Economic Data Daily ETF Roundup: Housing Soars, Earnings Miss Daily ETF Roundup: Stocks Rebound From Worst One-Day Drop In 2013
For a second day in a row, U.S. equities slumped as a slew of lackluster first quarter earnings reports hit the street. On the earnings front, Morgan Stanley (MS) reported disappointing bond-trading results, while UnitedHealth Group (UNH) also missed the marks on revenue expectations, but slightly beat analysts’ earnings forecasts. Telecom company Verizon Communications (VZ) also posted revenue that came in shy of analyst estimates, but managed to beat earnings expectations. In economic news, jobless benefits rose for the forth time in five weeks, while the Federal Reserve of Philadelphia’s index of general business activity slowed in April [see Free Member Report: How To Pick The Right ETF Every Time]. Global Market Overview: IHF And XLK Slump On Lackluster Earnings Following today’s disappointing earnings and economic reports, all three major U.S. equity indexes fell into negative territory. The Dow Jones Industrial Average ETF slid 0.53%, as its underlying index slumped 81.45 points. The S&P 500 ETF fell 0.63%, while [...]
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