U.S. stocks open lower amid disappointing earnings
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E-mail Xinhua, January 17, 2019
NEW YORK, Jan. 17 (Xinhua) -- U.S. stocks opened lower on Thursday as a slew of newly released quarterly results disappointed Wall Street.
Shortly after the opening bell, the Dow Jones Industrial Average dropped 87.16 points, or 0.36 percent, to 24,120.00. The S&P 500 was down 8.12 points, or 0.31 percent, at 2,607.98. The Nasdaq Composite Index fell 19.61 points, or 0.28 percent, to 7,015.08.
Morgan Stanley reported Thursday its fourth quarter results, with the net revenue down 10 percent to 8.55 billion U.S. dollars and earnings 80 cents per share. Its revenue and earnings fell short of analysts' estimates, sending the stock down more than 4.5 percent shortly after the opening.
American Express and Netflix are set to report after Thursday's close.
U.S. stocks rallied on Wednesday as the market mood was fueled by upbeat earnings results from major financial institutions.
Shares of Goldman Sachs soared 9.54 percent on Wednesday, its biggest one-day gain in a decade, after the bank reported blowout results. Bank of America also delivered record earnings, sending the stock up more than 7 percent. Enditem
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