Overnight: Wall St lower on earnings concerns

U.S. stocks dipped on Monday as fears increased that the strong dollar and lower oil prices will hurt U.S. first-quarter earnings. Nine of the 10 S&P 500 sectors fell, led by a 1.1 percent decline in S&P industrials .SPLRCI. Shares of General Electric (GE.N) dropped 3.1 percent to $27.63 after rallying on Friday, when it said there was potential to return more than $90 billion to investors through 2018. The dollar was last up 0.1 percent against a basket of major currencies after hitting a peak of 99.99 .DXY, its highest in four weeks. A stronger dollar tends to hurt profits for U.S. multinationals. U.S. crude oil edged higher but sharp losses since last year have weighed on energy companies' results. Corporate earnings kick into high gear this week. Estimates for first-quarter S&P 500 results have fallen sharply since Jan. 1, with earnings for the period expected to have declined 2.9 percent from a year ago. Read the full article: (VIEW LINK)


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