Procter & Gamble fell 2.9 per cent
on top of a 4.2 per cent drop the day before when it said shrinking
retailer inventories and higher costs squeezed its margins.
Apple
fell 4.1 per cent, making it the biggest drag on the major indexes
after Morgan Stanley estimated weak demand for its latest iPhones, a day
after Taiwan Semiconductor raised fears of softer smartphone sales.
Alphabet, Facebook, Intel and Microsoft are among the major technology companies reporting next week.
S&P 500 companies are expected to report their strongest first-quarter profit gains in seven years. Of the 87 companies that have reported so far, 79.3 per cent have topped profit expectations, according to Thomson Reuters I/B/E/S.
Declining issues outnumbered advancing ones on the NYSE by a 2.05-to-1 ratio; on Nasdaq, a 1.68-to-1 ratio favoured decliners.
On US exchanges 6.45 billion shares changed hands compared with the 6.92 billion average for the last 20 trading days.
Philip
Morris International also had a second day of declines after getting
crushed due to weak shipment volumes in its quarterly report.
Alphabet, Facebook, Intel and Microsoft are among the major technology companies reporting next week.
S&P 500 companies are expected to report their strongest first-quarter profit gains in seven years. Of the 87 companies that have reported so far, 79.3 per cent have topped profit expectations, according to Thomson Reuters I/B/E/S.
Declining issues outnumbered advancing ones on the NYSE by a 2.05-to-1 ratio; on Nasdaq, a 1.68-to-1 ratio favoured decliners.
The S&P 500 posted 12 new 52-week highs and 22 new lows; the Nasdaq Composite recorded 54 new highs and 51 new lows.
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