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Dow on track for triple-digit loss after worse-than-expected 3M earnings


Thursday, 25 April 2019 20:45 WIB

DOW JONES Standard & Poor's 500saham A.S


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Stocks struggled for direction at the opening bell as the tech-sector's gains led the Nasdaq higher even as disappointing earnings from 3M Co. dragged the blue-chip Dow lower.

The S&P 500 was up nearly 0.2% to 2,932. The Dow Jones Industrial Average was down 182 points, or 0.7%, to 26,414. The Nasdaq Composite rose 0.6% to 8,150. Investors were contending with signs of slower global growth after South Korea's first-quarter gross domestic product fell by 0.3%.

A component of the Dow, shares of 3M Co. fell close to 10% after the company slashed its 2019 earnings guidance and announced it would cut 2,000 jobs. In other news, shares of Microsoft Co rose nearly 5% after the software giant reported healthy first-quarter results on late-Wednesday.

Source: Marketwatch


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