Wednesday, 3 May 2017

Wall Street edges up on heavy earnings day; Fed on tap

Wall Street edged higher on Tuesday as gains for the tech and industrial sectors countered weakness in auto and energy stocks and investors digested a heavy day of earnings reports. Ford shares dropped 4.4 percent and General Motors fell 2.9 percent, as major automakers posted declines in U.S. new vehicle sales for April.


After the market closed, Apple shares fell more than 1 percent after the company reported a surprise drop in iPhone sales for the quarter. Apple shares had gained 0.6 percent during regular trading ahead of the report.

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Riyanshi

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