Stocks Ended Lower ahead of Fed Policy Statement
- Tuesday, October 27, 2015, 17:04
- Stock Market
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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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