US stocks slip on poor progress in trade talks with the EU
Major indexes gave up early gains after the European Union’s trade negotiator cited little progress or clarity in talks with the US. The S&P 500 finished down 0.2%, while the Nasdaq 100 eked out a 0.2% gain and the Russell 2000 ended up 0.1%.
Most S&P 500 sector ETFs finished in the red, with tech, communication services, and financials delivering the best returns on the day.
Netflix was one of the best performers in the S&P 500 after touting plans to double its revenues by 2030. Bank of America similarly had a strong session after exceeding analysts’ expectations on revenues and profits in Q1 while maintaining its full-year guidance.
Albertsons was at the bottom of the leaderboard after posting underwhelming guidance.
Boeing faced selling pressure after China ordered its airlines to stop taking deliveries of its jets.
Johnson & Johnson finished modestly lower despite reporting better-than-expected earnings and relatively rosy guidance.