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Overnight on Wall Street, the Nasdaq Composite closed the trading day down 0.2% at 8,102.01, after breaking an intraday record. The S & P 500 also fell 0.2% to 2,927.25, while the Dow Jones Industrial Average fell 59.34 points to 26,597.05.
The S & P 500 and Nasdaq both had record highs in Tuesday's session, boosted by strong results from companies such as United Technologies, Coca-Cola and Twitter. However, stocks fell from record highs on Wednesday as Wall Street digested a heterogeneous set of corporate earnings.
Nearly 130 companies of the S & P 500 announced their first-quarter profits until Tuesday morning. According to Refinitiv, 78% of these companies reported higher than expected earnings.
Investors are closely watching corporate earnings this season, fearing a contraction in profits. Analysts surveyed by FactSet have entered the season hoping for a 4.2% decline in S & P 500 earnings. According to FactSet, the earnings growth rate of companies that have published results so far is close to 2 , 4%.
The US dollar index, which compares the greenback to a basket of peers, was at 98.088, after hitting a lows yesterday at 97.6.
The Japanese yen traded at 112.00 after falling sharply in the previous session from levels below 111.8. The Australian dollar was at $ 0.7017 after slipping yesterday above $ 0.707.
Oil prices plummeted in the morning of Asian trading hours, Brent futures, an international benchmark, falling 0.25% to $ 74.38 a barrel, while US futures contracts retreated from 0.42% to 65.61 dollars.
– Fred Imbert of CNBC contributed to this report.
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