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Dow, S&P 500 register worst day in 7 weeks

Wednesday, October 25, 2017 - 01:13

U.S. stocks ended lower on a batch of disappointing quarterly earnings reports and a rise in bond yields. Roselle Chen reports.

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Wall Street's rally paused after the latest earnings failed to impress investors. AT&T missed. It lost video subscribers. And fewer of its customers got upgrades ahead of Apple's iPhone X launch. AT&T stock tanked. Boeing surprised investors with a $300 million charge for its troubled aerial refueling tanker program. Its shares plunged. Peter Cardillo, chief market economist at First Standard Financial. (SOUNDBITE) PETER CARDILLO, CHIEF MARKET ECONOMIST, FIRST STANDARD FINANCIAL (ENGLISH) SAYING: "Little disappointment, perhaps, from Boeing, obviously, which is weighing on the Dow. We had Chipotle earnings also missing, and missed their target. And as a result of that, we're having a minus day. I don't think it really changes the trend in any way. I just think it's a one day wonder." Chipotle plunged after falling short on earnings. AMD shares took a dive after the chipmaker gave a disappointing outlook. On the flip side... Anthem rose on better-than-expected profit. And Northrop Grumman jumped on positive earnings and profit forecast. In Europe, shares fell after a mixed batch of company results.

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Dow, S&P 500 register worst day in 7 weeks

Wednesday, October 25, 2017 - 01:13