U.S. Stocks Slip Amid Earnings as Dollar Retreats With Crude
- Draghi won’t add to stimulus for now, sees economy risks
- S&P 500, Dow fall from records as Southwest, Intel disappoint
Stocks Retreat: Here's Why Current Valuations Make Sense
Earnings continued to set the tone on global equity markets, as U.S. stocks retreated from record levels amid a mix of corporate results that raised some concern about the economy’s strength. Crude fell amid a stockpile glut, while Treasuries rose with gold.
The S&P 500 Index fell from a record, with airlines leading declines after Southwest Airlines Co. tumbled on weakness in its fares. Intel Corp. dragged the Dow Jones Industrial Average lower for the first time in 10 days. Starbucks Corp. fell 3 percent in late trading after earnings missed estimates. Travel companies sent European shares down from a four-week high. The 10-year Treasury yield retreated, while crude fell below $45 a barrel in New York.