Stocks fall for 3rd straight day as earnings disappoint
U.S. stocks are closing lower for a third straight day as a number of big companies report disappointing financial results.
Caterpillar and 3M released weaker-than-expected earnings, pulling indexes lower Thursday.
Some companies bucked the downward trend. General Motors, Southwest Airlines and Raytheon all rose after announcing stronger results than analysts anticipated.
The Dow Jones industrial average lost 119 points, or 0.7 percent, to close at 17,731.
The Standard & Poor’s 500 index slipped 12 points, or 0.6 percent, to 2,102. The Nasdaq composite slid 25 points, or 0.5 percent, to 5,146.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.27 percent.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
