NEW YORK — U.S. stocks ended marginally lower Thursday as lingering worries about upcoming corporate earnings reports offset enthusiasm about a trio of soaring Wall Street debuts.
Weighing on the S&P 500 were Apple and General Electric, which is expected to report its first-quarter results Friday before the start of trading.
The S&P 500’s top gainer, Netflix (NFLX), closed 18.2 percent higher a day after the video streaming service posted better-than-expected results.
Shares of Etsy (ETSY), an online marketplace for handmade goods and crafts, finished 87.5 percent higher and private-equity backed Party City (PRTY) stock jumped 21.8 percent in their IPOs.
The stock of electronic trading firm Virtu Financial (VIRT) closed 16.7 percent higher in its market debut in a sign that public angst over “high-frequency” trading is waning.
The Dow Jones industrial average (^DJI) fell 6.84 points, or 0.04 percent, to end at 18,105.77. The Standard & Poor’s 500 index (^GSPC) lost 1.64 points, or 0.08 percent, to 2,104.99 and the Nasdaq composite (^IXIC) dropped 3.23 points, or 0.06 percent, to 5,007.79.
Of the 51 companies in the S&P 500 that have reported so far, 76.5 percent exceeded profit expectations, well above the long-term average of 63 percent.
After mixed trading sessions this week, major indexes are about 1 percent below record highs despite recent concerns about weakness in first-quarter earnings. But it is too early to pronounce the March-quarter earnings season an unexpected success, strategists said.
“Where are we on earnings? We know they’re going to be negative year over year but just how negative are they going to be?” said Jim Bianco, president of Bianco Research in Chicago.
“It’s a game. The analysts will cut too far so the companies can beat.”
Apple (AAPL) closed 0.48 percent lower at $126.17 while GE (GE) ended down 0.65 percent at $27.28, with analysts on average expecting the conglomerate to post a drop in quarterly earnings, according to Thomson Reuters data.
First-quarter earnings for S&P 500 companies are expected to have declined 2.6 percent from a year ago, according to Thomson Reuters data, hurt by low oil prices, a strong dollar and extreme weather in the eastern United States. Revenue is forecast down 2.8 percent from a year ago.
SanDisk (SNDK) lost 4.51 percent to close at $67.91 after its forecast. Philip Morris International (PM) stock surged 8.74 percent to $84.96 after the cigarette maker’s revenue and profit fell less than expected in the first quarter.
After the bell, Mattel (MAT) posted quarterly results that sent its shares 7.7 percent higher.
On Thursday, declining issues outnumbered advancing ones on the NYSE by 1,700 to 1,333, for a 1.28-to-1 ratio on the downside; on the Nasdaq, 1,434 issues fell and 1,289 advanced, for a 1.11-to-1 ratio.
The S&P 500 posted 8 new 52-week highs and no new lows; the Nasdaq composite recorded 102 new highs and 17 new lows.
What to watch Friday:
The Labor Department releases the Consumer Price Index for March at 8:30 a.m. Eastern time.
At 10 a.m., the Conference Board releases Leading Indicators for March, and the University of Michigan releases its preliminary survey of consumer sentiment for April.
These selected companies are scheduled to release quarterly financial results:
General Electric (GE)
Honeywell International (HON)
Reynolds American (RAI)
Seagate Technology (STX)
Synchrony Financial (SYF)
You probably want to have your own hammer, wrench and screwdriver on hand for those around-the-house projects that spring up, but there’s no reason to go out and buy a pricey piece of machinery you’ll only use once.
Power sanders, tile saws and post-hole diggers are essential for certain projects, but unless you’re an avid carpenter or a DIY enthusiast, chances are you won’t use them again anytime soon. Rather than buying them, rent them by the day from stores like Home Depot or Lowe’s.
1. Power tools
Once your class is over, you’ll no longer need the textbooks it requires. Why pay hundreds of dollars for them, especially when the campus bookstore will give you cents on the dollar when you try to sell them back?
College is expensive enough. Save some much-needed cash by checking out textbook rental sites like Chegg.com, TextbookRentals.com and BookRenter.com.
Guys have no trouble renting a tuxedo for a wedding or formal event, but when it comes to evening gowns, most women pay top dollar for fancy dresses they only wear once or twice. Rent these dresses instead and you’ll not only save money; you’ll be able wear a different dress for every occasion without the guilt. Check out RentTheRunway.com, LendingLuxury.com and JJsHouse.com to rent prom dresses, evening gowns, accessories and more.
3. Special-occasion attire
The trouble with buying video games is they often cost a pretty penny, and you don’t know until you start playing the game whether or not you’ll love it. If you don’t, you’ll have a great time playing it through once or twice, and then it sits on a shelf collecting dust.
By choosing to rent your video games through a service like GameFly, you’re able to explore a wide range of titles to find which ones you like. If you love one, you can always buy it. If not, just drop it back in the mail and try the next one, no money lost.
4. Video games
Unless you’re a fanatic, chances are you need seasonal outdoor gear only once or twice a season, which hardly justifies the expense of buying and storing it year-round.
Rent backpacking and camping gear from stores like REI or websites like MountainSideGearRental.com. Rent jet skis and surfboards from beach vendors. Rent snowmobiles, skis and snowboards from local ski venues and resorts. Unless it’s something you plan on making a regular hobby, you’re better off renting.
5. Seasonal outdoor gear
Too many of us have a treadmill in our basement that we bought with the best of intentions, used regularly for about a week, and have since turned into a place to hang laundry while it’s drying.
Unless you’re an established home gym rat and know that that new elliptical, stationary bike or training unit won’t be just a passing fad, go the rental route through sites like GymSource.com and BDFitness.net.
6. Exercise equipment
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