Stocks Closed Lower ahead of Key Central Bank Meetings

U.S. stocks closed lower on Thursday, as investors turned cautious ahead of a number of central bank policy meetings next week. The Dow Jones Industrial Average shed 77.80 points, or 0.42%, to 18,517.23. The S&P 500 was down 7.85 points, or 0.36%, to 2,165.17. The Nasdaq Composite was off 16.03 points, or 0.31%, to 5,073.90.

Starbucks Corp. on Thursday revised its projections for the year as sales in the June quarter again fell short of expectations. Starbucks reported profit of $754 million, or 51 cents a share, compared with $626.7 million, or 41 cents a share, a year earlier. Revenue rose 7% to $5.24 billion.

Chipotle Mexican Grill Inc. profit dropped 82% in its June quarter. For the second quarter, Chipotle reported a profit of $25.6 million, or 87 cents a share, far down from $140.2 million, or $4.45 a share, a year earlier. Revenue declined to $998.4 million from $1.2 billion.

Shares of Boeing Co. (BA) fell more than 1% in late trading Thursday after the aircraft maker warned second-quarter charges will reach $2.05 billion, stemming from setbacks and difficulties in three separate programs and including problems related to weaker air-cargo market trends.

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