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S&P 500 Falls for Week as Earnings Offset Global Outlook

The Standard & Poor’s 500 Index fell for the week, after touching an all-time high, as weaker-than-estimated earnings at companies from Citigroup Inc. to CSX Corp. offset an improving outlook for the global economy.

Citigroup and CSX dropped at least 4.4 percent as quarterly results missed analysts’ estimates. Best Buy Co. sank 35 percent after price cuts failed to draw as many holiday shoppers as expected. American Express Co. rallied 2.7 percent as fourth-quarter profit doubled. Beam Inc. jumped 24 percent after Suntory Holdings Ltd. said it will acquire the spirits maker in a $16 billion deal.