U.S. Stocks Fall on Housing Data Amid Earnings, Russia Sanctions
Thursday, 17 July 2014 21:31 WIB |
MARKET UPDATE |Saham AS
U.S. stocks fell, after the Dow Jones Industrial Average reached a record, as European markets slumped on sanctions against Russia and investors weighed corporate earnings amid a slump in housing starts.
SanDisk Corp. dropped 7.5 percent after posting profit margins and sales forecasts that fell short of some analysts’ estimates. Morgan Stanley rose after reporting earnings that beat projections. Microsoft Corp. gained 2.8 percent after saying it will eliminate as many as 18,000 jobs, the largest round of cuts in its history.
The Standard & Poor’s 500 Index fell 0.3 percent to 1,975.89 at 9:32 a.m. in New York.
The U.S. and European Union said more sanctions may follow after the most punitive sanctions so far over the unrest in Ukraine. The Obama administration’s targets include OAO Rosneft, Russia’s largest oil company and natural-gas producer OAO Novatek. The leaders of the 28-nation bloc agreed to blacklist companies and halt lending to public-sector projects in Russia.