NEW YORK, April 30 — Wall Street stocks dipped in early trading today as markets digested mixed earnings and looked ahead to a Federal Reserve decision.
The latest round of earnings “wasn’t really moving the market,” said Briefing.com analyst Patrick O’Hare, who detected hesitation “on the part of buyers recognising that the coming days will be chock full of market-moving items.”
About five minutes into trading, the Dow Jones Industrial Average was down 0.5 per cent at 38,209.40.
The broad-based S&P 500 shed 0.2 per cent to 5,103.73, while the tech-rich Nasdaq Composite Index declined 0.3 per cent to 15,931.66.
The Federal Reserve is due to kick off a two-day monetary policy meeting, while Amazon and Starbucks are scheduled to report earnings after the market closes.
There will also be key reports in the coming days on the US labour market and consumer confidence.
Among individual companies, McDonald’s fell 1.9 per cent after reporting slightly lower than expected profits. The chain pointed to a continued drag from boycotts stemming from conflict in the Middle East. — AFP
