U.S.
stocks fell, trimming the first weekly gain of 2015, as
weaker-than-forecast results at companies from United Parcel Service
Inc. to Kimberly-Clark Corp. offset confidence that central banks will
support global growth.
UPS
slumped 9.9 percent as it said preliminary 2014 earnings were lower
than previously forecast. Bank of New York Mellon Corp. and State Street
Corp. led financial shares lower after both said the falling euro hurt
revenue from the region. Kimberly-Clark dropped 6.1 percent after
forecasting 2015 earnings that missed estimates.
The
Standard & Poor™s 500 Index lost 0.6 percent to 2,051.82 at 4 p.m.
in New York, paring a weekly gain to 1.6 percent. The Dow Jones
Industrial Average dropped 141.38 points, or 0.8 percent, to 17,672.60.
The Nasdaq Composite Index gained 0.2 percent. The Stoxx Europe 600
Index rallied 1.7 percent a day after the European Central Bank expanded
its stimulus plan.
About
6.5 billion shares changed hands on U.S. exchanges today, in line with
the three-month average. Selling accelerated in the final 30 minutes of
trading as materials producers extended declines to 1.6 percent and
investors anticipated the results of an election in Greece on Sunday.
Opinion polls show the anti-austerity party may win enough votes to take
power.
Source: Bloomberg
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