US shares sputter amid earnings deluge

0 Comments | AFP, January, 2007

NEW YORK (AFP) — US stocks swung lower as investors mulled a deluge of corporate earnings reports including a record loss by Ford Motor Co., a day after the main indexes hit fresh highs.

The Dow Jones Industrial Average, which closed at an all-time record on Wednesday, traded down 43.82 points (0.35 percent) to 12,577.95 at 1700 GMT.

The technology-heavy Nasdaq slid 12.86 points (0.52 percent) to 2,453.42, after its best close since February 2001.

The broad-market Standard and Poor's 500, which ended Wednesday at a six-year high, lost a fractional 6.40 points (0.44 percent) to 1,433.73.

Analysts said Wednesday's high came amid a shift in sentiment, especially in the tech sector, where the latest news has eased fears about a sharp slowdown in...

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