Monday 2 May 2016

Wall Street Falls as Earnings weigh; Dow, S&P Up for Month

US stocks posted their largest weekly drop in more than two months on Friday as earnings reports continued to weigh, but the S&P 500 and Dow managed to close up for April after strong showings mid-month. 

Company results once more gave the market direction as a 9 percent decline in Gilead Sciences shares weighed the most on both the S&P and the Nasdaq Composite. 

Apple shares were down for the tenth session in the last 11 and closed the week down 11.3 percent, the largest such decline since January 2013. Its April fall was of 14 percent.


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