Wall Street stocks open lower

By Dow Jones newswires

But stocks have been choppy in recent days as investors watch corporate earnings to gauge whether stocks can continue pushing to new highs. "Until we get a little bit more conviction on one side or the other, we're just going to be stuck here a little bit," said Gordon Charlop, managing director at New York brokerage Rosenblatt Securities. "You have guys who are sitting here worried about the geopolitical situation, and some saying valuations may be top-heavy here," he said. "Then there are other guys saying the credit markets are active, you have M&A, and things are looking pretty good.

Big-name corporate earnings weighed on major benchmarks Friday. Amazon. com tumbled 11 per cent after the retailer posted a wider-than-expected quarterly loss, even as revenue rose 23 per cent. Visa tumbled 4. 7 per cent, the biggest loss among Dow components, after trimming its forecast for annual revenue growth.

Read more here: Business Spectator


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