US STOCKS-Wall St dips as data, sinking momentum shares offset earnings

martes 15 de abril de 2014 11:07 GYT

* CPI edges higher, Empire State manufacturing misses expectations

* Materials under pressure after Chile cuts copper outlook

* Indexes: Dow up 0.08 pct, S&P up 0.11 pct, Nasdaq off 0.39 pct (Updates to open; adds data, quote)

By Chuck Mikolajczak

NEW YORK, April 15 (Reuters) - U.S. stocks dipped on Tuesday, as gains in Coca Cola and Johnson & Johnson after their quarterly earnings were offset by mixed economic data and a resumed slide in momentum shares.

Coca-Cola Co advanced 3.2 percent to $39.98 as the biggest boost to the S&P 500 after the soft drink maker reported better-than-expected quarterly revenue as strong sales in China more than offset a drop in Europe and flat volumes in North America.

Fellow Dow component Johnson & Johnson rose 1.3 percent to $98.37 after it posted quarterly earnings well above Wall Street expectations, as brisk sales of new prescription drugs balanced weak sales of consumer products, and slightly raised its full-year profit view.

The Nasdaq moved lower, however, weighed down by another round of declines in momentum names. Tesla Motors fell 3.3 percent to $191.45 and Facebook lost 2.7 percent to $57.32 to rank among the worst performers on the Nasdsq 100 index.

"The outlooks certainly look healthy and there is a sense of optimism on earnings," said Anastasia Amoroso, global market strategist with J.P. Morgan Funds in New York.   Continuación...