News
Q1 Earnings Send Stocks Spiraling
This year’s Q1 earnings season kicked off in a bad way—stocks slipped as people nervously await what they expect will be bad news.
Major indexes reversed gains on Monday—the Dow industrials rose 155 points before falling 0.1% to finish in the red, the S&P 500 slipped 0.3% and the Nasdaq Composite dropped 0.4%, the Wall Street Journal reports.
First in line in what many expect will be a string of bad news was Alcoa—its shares fell after the aluminum maker announced its Q1 earnings declined 92%.
Analysts expect earnings for S&P 500 companies to shrink 8.5% from a year earlier, with the worst results expected for the energy sector. [WSJ]
