US STOCKS-Wall St falls broadly ahead of earnings

martes 8 de julio de 2014 10:13 GYT
 

* Dow back under 17,000 in broad market decline

* Alcoa to report after market close, revenue seen down

* Airline stocks among the weakest of the day

* Dow, S&P 500 fall 0.5 pct, Nasdaq down 0.9 pct (Updates to open)

By Ryan Vlastelica

NEW YORK, July 8 (Reuters) - U.S. stocks fell for a second day in a broad decline on Tuesday as investors held off from making big bets going into the start of corporate earnings season.

The day's losses were broad, with eight of the ten primary S&P 500 sectors down on the day. The only one to rise solidly was utilities, a defensive group, which added 0.4 percent. About 60 percent of stocks traded on the New York Stock Exchange fell while almost three-fourths of Nasdaq-listed names fell.

In a cautious sign about consumers, Bill Simon, the chief executive officer of Wal-Mart's U.S. division, told Reuters that while the domestic job market was improving, that wasn't giving consumers enough confidence to boost spending.

Recent U.S. economic data has been strong, following a dismal start to the year, and market participants are looking to corporate earnings for confirmation that the economy snapped back in the second quarter. Many analysts are especially looking for an acceleration in revenue growth.   Continuación...