Stocks inch lower on mixed earnings, Ukraine
NEW YORK (AP) — U.S. stocks are ending slightly lower as corporate earnings come in mixed, overcoming enthusiasm about a pickup in hiring last month.
Escalating tensions in Ukraine also weighed on the market Friday.
LinkedIn slumped 8 percent after reporting its largest quarterly loss since going public. Estee Lauder rose 5 percent after its earnings beat analysts’ estimates.
The Standard & Poor’s 500 index lost two points, or 0.1 percent, to 1,881.
The Dow Jones industrial average fell 46 points, or 0.3 percent, to 16,512. The Nasdaq composite fell three points, 0.1 percent, to 4,123.
The government reported that U.S. employers added 288,000 jobs in April, the most in two years.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.59 percent, near its lowest level of the year.