S & P and Nasdaq slide as lower energy stocks weigh by Investing.com



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ยฉ Reuters.

Investing.com – The S & P 500 and Nasdaq tumbled Wednesday, a day after breaking records, as falling energy stocks and mixed company results hardly contributed to continued gains.

The decrease of 0.22% and the loss of 0.23%. The slipped 0.22%.

Energy stocks were the main cause of the decline, as oil prices were under pressure after the Energy Information Administration announced a larger increase in weekly inventories than expected.

The fall in energy prices comes despite an 11.6% rise in Anadarko Petroleum (NYSE ๐Ÿ™‚ after Occidental Petroleum (NYSE ๐Ÿ™‚ Chevron & Nbsp; (NYSE ๐Ÿ™‚ public bid for the company, paving the way for a bidding war.

The values โ€‹โ€‹of the communications services also contributed to the moderate strength of Wall Street, driven by the fall of AT & T (NYSE ๐Ÿ™‚ and the weakness of most FANG shares.

AT & T has announced an online profit of 86 cents per share for Investing.com in the first quarter, but a lower turnover of $ 44.83 billion.

Netflix (NASDAQ :), Facebook (NASDAQ ๐Ÿ™‚ and Alphabet (NASDAQ ๐Ÿ™‚ also ended the day in the red.

Among the industrialists, caterpillar (NYSE ๐Ÿ™‚ fell more than 3%, as its earnings were overshadowed by lower margins, as higher transportation costs for the manufacturing sector weighed.

Boeing (NYSE :), meanwhile, finished higher as more clarity on the cost of grounding its 737 MAX overshadowed lower than expected earnings and the elimination of the forecast.

The slowdown in production of the 737 MAX has cost him a billion dollars so far, Boeing said.

In the tech sector, semiconductor stocks were fueled by a rise in Texas Instruments (NASDAQ ๐Ÿ™‚ after the chip maker posted a profit beat yesterday after the bell.

The better than expected quarterly results of Snap (NYSE ๐Ÿ™‚ have not been greeted with the same dynamism, as they gave up their initial gains before the launch to close the day down, as analysts fear that growth in the company's investment spending will slow it down. to profitability.

On the trade front, US President Donald Trump said the ongoing trade talks between the US and China were well ahead of the next round of talks scheduled for April 30 in Beijing, followed by new talks starting May 8. in Washington.

Main winners and losers of the S & P 500 today:

Anadarko Petroleum (NYSE :), TE Connectivity (NYSE ๐Ÿ™‚ and FLIR Systems (NASDAQ ๐Ÿ™‚ were among the top winners of the S & P 500 for the session.

Rollins (NYSE :), Robert Half International (NYSE ๐Ÿ™‚ and National Oilwell Varco (NYSE ๐Ÿ™‚ were among the worst in the S & P 500 session.

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