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US stocks close lower amid earnings, data

IANS  |  New York 

US stocks closed lower on Friday as investors digested the latest earnings reports and economic data.

The Dow Jones Industrial Average lost 122.91 points, or 0.50 per cent, to 24,360.14. The erased 7.69 points, or 0.29 per cent, to 2,656.30, reported.

The Index was down 33.60 points, or 0.47 per cent, to 7,106.65.

Citigroup, and all reported quarterly earnings and revenue that surpassed expectations.

reported earnings per share of $2.37, higher than estimate of $2.28. reported earnings per share of $1.68 and its first-quarter revenue reached $18.9 billion.

reported diluted earnings per share of $1.12, and revenue of $21.9 billion.

In addition, 76.7 per cent of companies have reported revenue above expectations. This is above the long-term average of 60 per cent.

On the economic front, consumer sentiment slipped in early April, largely reversing the gains recorded in the prior two months.

The University of Michigan's mid-month report on consumer attitudes about the economy inched down to 97.8 in mid-April, lower than expectations.

--IANS

pgh/

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, April 14 2018. 04:14 IST
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