Stocks struggle after DuPont profit warning
Stocks were struggling Wednesday, spooked by a profit warning from DuPont Co. and BP PLC’s announcement that its fourth-quarter oil production slipped.
Wall Street saw strong advances in the first five trading days of the year, but after the Dow Jones industrial average crossed 11,000 Monday for the first time in more than four years, investors have pulled back. The Dow and the Standard & Poor’s 500 both fell by a hair Tuesday and the Nasdaq composite booked the barest gain.
With little new economic data to drive stocks, investors are watching the beginning of earnings season closely. Announcements, such as DuPont’s, that earnings won’t meet expectations, have the power to dampen investors’ enthusiasm for all equities.
Source: MSNBC.
There are currently no comments on this thread.