US STOCKS-Wall St ends down as earnings worries deepen

lunes 13 de abril de 2015 16:31 GYT
 

* GE shares slide after Friday's sharp gains

* Netflix to raise share authorization, shares gain

* Indexes down: Dow 0.5 pct, S&P 0.5 pct, Nasdaq 0.2 pct (Updates to close)

By Caroline Valetkevitch

April 13 (Reuters) - U.S. stocks dipped on Monday as fears increased that the strong dollar and lower oil prices will hurt U.S. first-quarter earnings.

Nine of the 10 S&P 500 sectors fell, led by a 1.1 percent decline in S&P industrials. Shares of General Electric dropped 3.1 percent to $27.63 after rallying on Friday, when it said there was potential to return more than $90 billion to investors through 2018. Shares of 3M Co were down 0.7 percent at $165.84.

The dollar was last up 0.1 percent against a basket of major currencies after hitting a peak of 99.99, its highest in four weeks. A stronger dollar tends to hurt profits for U.S. multinationals. U.S. crude oil edged higher but sharp losses since last year have weighed on energy companies' results.

Corporate earnings kick into high gear this week. Estimates for first-quarter S&P 500 results have fallen sharply since Jan. 1, with earnings for the period expected to have declined 2.9 percent from a year ago, Thomson Reuters data showed.

"We're all waiting on earnings, which are going to be coming fast and furious as we move through the week. I think there is some trepidation about what the earnings announcements are going to look like and so investors are cautious," said John Carey, portfolio manager at Pioneer Investment Management in Boston, which has about $220 bln in assets under management.   Continuación...