U.S. equities trade lower as travel stocks lead losses
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E-mail Xinhua, January 25, 2020
NEW YORK, Jan. 24 (Xinhua) -- U.S. stocks traded lower on Friday as travel stocks led the losses.
At midday, the Dow Jones Industrial Average declined 133.94 points, or 0.46 percent, to 29,026.15. The S&P 500 was down 22.44 points, or 0.67 percent, to 3,303.10. The Nasdaq Composite Index decreased 55.22 points, or 0.59 percent, to 9,347.26.
Norwegian Cruise Line Holdings and Wynn Resorts declined 4.59 percent and 4.58 percent, respectively. American Airlines and United Airlines both fell more than 4 percent in the morning session.
On the earnings front, American Express reported fourth-quarter results on Friday before the opening bell, which beat analyst expectations as card fee revenues grew more than expected.
It registered quarterly earnings per share of 2.03 U.S. dollars. Its consolidated total revenues net of interest expense were 11.4 billion dollars, up 9 percent year on year.
Intel beat estimates for the fourth quarter and gave an optimistic forecast for the first quarter of 2020. The company reported non-GAAP earnings per share of 1.52 dollars on revenue of 20.2 billion dollars. Enditem
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