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Stocks trading mainly lower as Google's revenue base weighs on tech stocks



U.S .. stocks were under pressure at the beginning of trading Tuesday, as investors expect the kickoff of a two-day Federal Reserve meeting and digest global financial data and a smorgasbord of corporate earnings, including disappointing results from parents of the internet search giant Google. [19659002] What are indexes?

Dow Jones Industrial Average

DJIA, -0.11%

rose 5 points to 26599, while the S&P 500 index

SPX, [0.2459006] -0.29%

lost 7 points, or 0.2% to 2.935. Nasdaq Composite Index

NQM9, -0.22%

was down 49 points, or 0.6%, to 8,114.

S & P 500 and Nasdaq Composite each edged higher Monday to post finished. What follows on record closes on Friday and marked the first back-to-back set of full-time jobs for both since August. The Dow also eked out an increase on Monday, getting 11.06 points to finish around 1% during his all-time closing high of 26,828.39 set on October 3.

What drives the market?

The Federal Reserve starts a two-day policy meeting on Tuesday. Political decision-makers are expected to keep their interest rates on hold, but the statement and comments of Fed Chairman Jerome Powell will be closely monitored for future plans by the central bank, after it has suddenly stopped its January interest rate increase plan and then initiated measures to stop cooling off. balance.

Read: Powell is facing tough tests Wednesday when the market is uneasy with its recent communication

A private measurement of China's factory activity weakened in April, but showed continued expansion, in line with official data such as also showed slower growth. The Caixin China Purchasing Manager Index fell to 50.2 in April from 50.8 in March, and held above the 50 level indicating an expansion of activity. Earlier, official PMI fell to 50.1 in April from 50.5 in March.

At the same time, the euro area regained some lost momentum at the beginning of 2019, according to Tuesday's data, which showed combined gross domestic product for the 19-nation region rose by an annual 1.5% in the first quarter, accelerating from a growth of 0.9% in the quarter 2018.

Which companies are the focus?

Shares of Google Parent Alphabet Inc.

GOOG, -7.65%

GOOGL, -7.61%

was down on more than 8% Tuesday , after the end result on Monday showed that revenue growth cooled in the first quarter, with all major sales categories performing slightly worse than expected.

Tip: Google sales growth is slowing down and it will probably be nice to know why

Stocks on General Electric Co.

GE, + 4.62% [19659006] jumped over 7%, having topped Wall Street's first quarter earnings and revenue expectations.

McDonald's Corp .

-0.37%

shares fell 0.1% Tuesday after the fasting giant reported and the Dow component reported global sales growth at the same stock of 5.4%, over analysts, but earnings fell short.

General Motors Co. .

GM, -3.12%

fell 2.6% after the automaker reported earnings for the first quarter that hit expectations, but revenue fell more than expected.

Perrigo Co. Plc

PRGO, -8.42%

shares fell 7.6% Tuesday morning, after the company was disclosed in a filing regulation that the IRS claims it owes $ 843 million in unpaid taxes, including a 40% penalty, related to the 2013 acquisition of Elan Corp.

Merck & Co. Inc.

MRK, + 0.77%

shares rose 0.2% after the drug agency had a stronger than expected result in the first quarter and increased guidance for the whole year. Fellow Dow Component and Pharmaceutical Giant Pfizer Inc .

PFE, + 1.36%

also surpassed the Wall Street forecasts for the first quarter, while increasing its guidance. Stocks rose 1.4% on Tuesday morning.

Ely Lilly & Co .

-3.09%

shares declined 3.2% early on Tuesday, after the drug giant reported the first-quarter earnings that peaked expectations, but revenue lost.

Mastercard Inc .

MA, + 2.72%

share rose 2.7% early on Tuesday after the credit card network outperformed earnings expectations for the first quarter.

Stocks of ConocoPhillips

COP, + 1.34%

rose 1.7% Tuesday morning after the oil company reported better than expected first-quarter profits.

Lumber Liquidators Holdings Inc. .

LL, -0.15%

shares fell 1%, after the timber retailer achieved a loss and sale in the first quarter that was not expected.

Apple Inc.

AAPL, -2.04%

is due to report earnings after closing clock.

Read: Apple's earnings: How much of its massive money table will enter the investor's pockets?

What happens in the economic calendar?

The indices of premiums rose by 0.7% over the first three months, in line with the expectations of the economists, per MarketWatch survey. The annual compensation growth increased by 2.8%, down from the annual rate over the last three months of 2018. The Case-Shiller housing price index for February showed that growth slowed to 6½ years, while the Purchasing Manager index for the Chicago area April is set for release at. 9.45.

At 10.00, investors will see an April consumer confidence index, which is expected to rise to 126.9 from 124.1 in March. A pending home sales index for March is also due simultaneously.

How do other markets trade?

Asian stock markets closed on a mixed note Tuesday, with the Shanghai Composite Index

SHCOMP, + 0.52%

and the Shenzhen Composite Index

399106, + 0.68%

both close higher, despite new data showing a lacking Chinese industry sector.

Hong Kong's Hang Seng Index

HSI, -0.65%

meanwhile fell 0.7% while South Korea's

SEU, -0.58%

also withdrew on the day. In Europe, the shares were mainly lower, with the Stoxx Europe 600

SXXP, -0.35%

down 0.1%

Oil price

CLM9, + 0.68%

increased Tuesday, rising 1.4% to $ 64.37 per barrel. gold Prices

GCM9, + 0.39%

was also advanced, while the US dollar became lower.


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