Stocks Ended Lower ahead of Fed Policy Statement

U.S. stocks closed slightly lower on Tuesday as investors remained cautious ahead of the Federal Reserve’s policy statement amid weak economic data and mixed earnings results . The Dow Jones Industrial Average fell 41.62 points, or 0.24%, to 17,581.43. The S&P 500 shed 5.29 points, or 0.26%, to 2,065.89.The Nasdaq Composite was down 4.56 points, or 0.09%, to 5,030.15.

Twitter Inc. beat earnings expectations but delivered a lower than expected revenue outlook. Twitter reported a net loss of $132 million, or a loss of 20 cents per share, compared to a loss of $175 million, or a loss of 29 cents per share in the year-earlier period.

Apple Inc. said its quarterly profit rose 31%, sparked by strong demand for iPhones in China.Its fourth-quarter net income totaled $11.12 billion, up from $8.47 billion in the year-ago period. Earnings per share rose more sharply, to $1.96 from $1.42. Revenue rose 22% to $51.50 billion from $42.12 billion in the same period a year earlier.

IBM Corp. disclosed Tuesday that the Securities and Exchange Commission is looking into certain transactions in the U.S., Ireland and the United Kingdom.






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