U.S. stocks traded lower this morning, with the Dow Jones index falling over 100 points on Wednesday.
Following the market opening Wednesday, the Dow traded down 0.31% to 38,443.33 while the NASDAQ fell 0.58% to 15,540.19. The S&P 500 also fell, dropping, 0.28% to 4,961.55.
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Leading and Lagging Sectors
Consumer discretionary shares rose by 0.8% on Wednesday.
In trading on Wednesday, information technology shares fell by 1%.
Top Headline
Analog Devices, Inc. (NASDAQ: ADI) posted upbeat first-quarter earnings, but issued a weak forecast for the current quarter.
Analog Devices posted adjusted earnings of $1.73 per share, beating market estimates of $1.71 per share. The company’s quarterly sales came in at $2.51 billion versus expectations of $2.50 billion.
Analog Devices said it sees second-quarter adjusted EPS of $1.16 to $1.36 versus estimates of $1.57. The company expects revenue of $2 billion to $2.2 billion versus expectations of $2.36 billion.
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