U.S. stocks ended mixed on Wednesday as investors digested a batch of weak corporate earnings and President Donald Trump's dismissal of the FBI chief. After hours, Snap plunged after reporting a massive loss. Roselle Chen reports.
Wall Street finished the day mixed. Investors digested a batch of weak earnings and President Donald Trump's decision to fire the FBI chief. On Tuesday, Trump sacked FBI Director James Comey for his handling of an email scandal involving Hillary Clinton. Comey had been leading an investigation into Trump's presidential campaign's possible ties with Russia. Ross Gerber of Gerber Kawasaki Wealth and Investment Management: (SOUNDBITE) ROSS GERBER, GERBER KAWASAKI WEALTH AND INVESTMENT MANAGEMENT, (ENGLISH) SAYING: "I think all of this has distracted him from his goals in helping the economy, and, I think, it's official, I think, the Trump trade is over, it's dead, Whatever we expected from this administration will be a long shot to pass, really, anything at this point, so, you know, I don't see this as a positive for the U.S. markets, even though valuations and earnings, valuations are high, earnings are good, how long will that continue without any real help from the U.S. government?" Disney fell short on its quarterly revenue and its stock tanked. Travel website Priceline tumbled after missing expectations. Botox-producer Allergan was off on a loss. One bright spot - chipmaker Nvidia - surged on a better-than-expected jump in revenue. After hours, Snap plunged after reporting a massive loss. It also disappointed on revenue. In Europe, stocks finished higher.