A day after a couple of indexes hit new highs, stocks retreated today. The Dow Jones Industrial Average dropped 129 points, the Nasdaq Composite lost 83, and the S&P 500 fell 16.
After the close, Amazon posted mixed quarterly results. Revenue of $63.4 billion slightly beat forecasts but per-share profit of $5.22 was shy of expectations, as was its cloud-business growth. Amazon shares are losing ground in after-hours trading.
Meanwhile, shares of chip maker Intel handily beat forecasts with its quarterly earnings and revenue.
Solid economic growth in Louisiana in the first part of the year: The U.S. Bureau of Economic Analysis says the state’s gross domestic product -- the total value of goods and services produced in Louisiana – grew 3.8% in the first quarter. That’s the tenth-best reading in the nation.
Oil futures rose slightly today. September crude edged up 14 cents to settle at $56.02 a barrel.