U.S. stocks edged lower for a second consecutive session on Friday as some underwhelming corporate earnings and gross domestic product data offset recent enthusiasm over policy actions by President Donald Trump. Bobbi Rebell reports.
Stocks moving mostly to the downside in the final trading session of the week, taking a bit of a break after a recent rally that drove stocks higher for the week and past the 20,000 mark on the Dow. Goldbean CEO Jane Barratt: SOUNDBITE: JANE BARRATT, CEO, GOLDBEAN (ENGLISH) SAYING: "20K has been a long time coming. I think, it flirted right before the holidays, and, I think, the momentum of so much positive news out of earning season really did manage to push that through. I think the first week of the new administration, again until policies are in place it is a hard to say this was a direct cause and effect but there was a lot of news. " Chevron one of the drags on the Dow with a big earnings miss. Starbucks also losing ground. The world's biggest coffee seller trimmed its full-year revenue forecast and reported a smaller-than-expected rise in quarterly sales at established restaurants in the Americas Economic growth in the U.S. slowed in the fourth quarter. GDP grew just 1.9 percent, down sharply from the 3.5 percent rate in the third quarter. In Europe, the major country indexes closed mostly lower on weakness in bank stocks.