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Jan. 29, 2020, 4:41 p.m. EST

Stocks end mixed, with earnings reports offset by lingering coronavirus worries

Fed leaves interest rates unchanged, sees moderate U.S. economic growth

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By Chris Matthews, MarketWatch , Clive McKeef

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In economic data, the U.S. trade deficit rose 8.5% in the fourth quarter, the Commerce Department said Wednesday.

The National Association of Realtors said its index of pending home sales fell 4.9% in December from the previous month.

See also : The U.S. economy probably grew a ho-hum 2% in the fourth quarter, but there might a few surprises

Which companies were in focus?

Boeing Co . /zigman2/quotes/208579720/composite BA -3.25%  reported a surprise loss for the fourth quarter and revenue that declined below analyst expectations amid the company’s struggles linked to the extended grounding of its 737 Max airplanes but shares rose 1.7%.

McDonald’s Corp. /zigman2/quotes/203508018/composite MCD +1.09%  on Wednesday reported fourth-quarter earnings and revenue that beat expectations. Shares rose 1.9%.

Shares of chip maker Advanced Micro Devices Inc. /zigman2/quotes/208144392/composite AMD +7.45%  lost 5.9%. AMD late Tuesday offered an outlook that was weaker than Wall Street analysts had expected, while data-center sales disappointed.

Shares of online auction site eBay Inc . /zigman2/quotes/204653455/composite EBAY +2.80%  fell 4.5%. The company late Tuesday reported fourth-quarter earnings that beat the consensus forecast, but offered weak first-quarter revenue guidance.

Coffee-chain Starbucks Corp. /zigman2/quotes/207508890/composite SBUX +0.72%  late Tuesday topped forecasts with its fiscal first-quarter earnings and called its holiday season “one of the strongest” in its history, but it also warned that China’s coronavirus outbreak was likely to hit its bottom line this year. Shares declined 2.2%

Victoria’s Secret parent L Brands Inc . /zigman2/quotes/202062875/composite LB +0.22%  is exploring strategic alternatives for the lingerie brand, including a full or partial sale, according to a report in The Wall Street Journal. L Brands’ stock rose 12.9%.

Shares of General Electric Co. /zigman2/quotes/208495069/composite GE -1.56% rose 10% after the industrial conglomerate reported fourth-quarter profit and revenue that topped expectations, while its earning outlook was below forecasts.

Shares of AT&T Inc. /zigman2/quotes/203165245/composite T +0.02% /zigman2/quotes/203165245/composite T +0.02% were off 3.9% after the media and telecommunications giant reported better-than-expected fourth-quarter earnings but fell short of forecasts on revenue.

How did other markets trade?

The yield on the 10-year U.S. Treasury note /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +2.45%  fell 4 basis points to 1.59%, and has slipped for the past five trading days, to the lowest since October 9 last year.

Oil futures declined Wednesday after the U.S. government data reported domestic crude inventories posted a bigger-than-expected weekly rise. West Texas Intermediate crude for March delivery   on the New York Mercantile Exchange fell 15 cents, or 0.3%, to $53.33 a barrel.

Gold futures finished with a slight gain on Wednesday, then held ground close to that settlement after the U.S. Federal Reserve left its benchmark short-term interest rate unchanged. February gold  was at $1,569.90 an ounce in electronic trading, shortly after the Fed policy statement.

The U.S. dollar edged 0.1% higher against a basket of its rival currencies, according to the ICE U.S. Dollar index /zigman2/quotes/210598269/delayed DXY -0.27% .

European stocks edged up with the Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +1.11%  ending up 0.44% at 419.41.

In Asia overnight, stocks traded mixed, with markets in China closed in an extension of the Lunar New Year holiday enacted as authorities deal with the effects of the coronavirus outbreak. In Hong Kong, the Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +1.42%  tumbled 2.8%, while Japan’s Nikkei 225 /zigman2/quotes/210597971/delayed JP:NIK +0.41%  gained 0.7%.

/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 174.28
-5.85 -3.25%
Volume: 31.73M
Aug. 12, 2020 2:23p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$101.67 billion
Rev. per Employee
$660,961
loading...
/zigman2/quotes/203508018/composite
US : U.S.: NYSE
$ 207.24
+2.24 +1.09%
Volume: 1.21M
Aug. 12, 2020 2:23p
P/E Ratio
32.78
Dividend Yield
2.42%
Market Cap
$152.54 billion
Rev. per Employee
$100,120
loading...
/zigman2/quotes/208144392/composite
US : U.S.: Nasdaq
$ 82.61
+5.73 +7.45%
Volume: 68.34M
Aug. 12, 2020 2:23p
P/E Ratio
161.81
Dividend Yield
N/A
Market Cap
$90.26 billion
Rev. per Employee
$641,089
loading...
/zigman2/quotes/204653455/composite
US : U.S.: Nasdaq
$ 55.81
+1.52 +2.80%
Volume: 4.69M
Aug. 12, 2020 2:23p
P/E Ratio
8.42
Dividend Yield
1.15%
Market Cap
$38.00 billion
Rev. per Employee
$768,143
loading...
/zigman2/quotes/207508890/composite
US : U.S.: Nasdaq
$ 79.44
+0.56 +0.72%
Volume: 3.34M
Aug. 12, 2020 2:23p
P/E Ratio
71.64
Dividend Yield
2.07%
Market Cap
$92.20 billion
Rev. per Employee
$86,863
loading...
/zigman2/quotes/202062875/composite
US : U.S.: NYSE
$ 26.99
+0.06 +0.22%
Volume: 4.91M
Aug. 12, 2020 2:23p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$7.48 billion
Rev. per Employee
$148,898
loading...
/zigman2/quotes/208495069/composite
US : U.S.: NYSE
$ 6.63
-0.11 -1.56%
Volume: 47.67M
Aug. 12, 2020 2:23p
P/E Ratio
16.20
Dividend Yield
0.60%
Market Cap
$58.91 billion
Rev. per Employee
$429,735
loading...
/zigman2/quotes/203165245/composite
US : U.S.: NYSE
$ 30.21
+0.0063 +0.02%
Volume: 12.28M
Aug. 12, 2020 2:23p
P/E Ratio
18.44
Dividend Yield
6.89%
Market Cap
$215.18 billion
Rev. per Employee
$637,332
loading...
/zigman2/quotes/203165245/composite
US : U.S.: NYSE
$ 30.21
+0.0063 +0.02%
Volume: 12.28M
Aug. 12, 2020 2:23p
P/E Ratio
18.44
Dividend Yield
6.89%
Market Cap
$215.18 billion
Rev. per Employee
$637,332
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
0.66
+0.02 +2.45%
Volume: 0.00
Aug. 12, 2020 2:23p
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/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
93.37
-0.26 -0.27%
Volume: 0.00
Aug. 12, 2020 2:13p
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/zigman2/quotes/210599654/delayed
XX : STOXX
374.88
+4.12 +1.11%
Volume: 0.00
Aug. 12, 2020 5:50p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
25,244.02
+353.34 +1.42%
Volume: 1.76M
Aug. 12, 2020 4:08p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
22,843.96
+93.72 +0.41%
Volume: 0.00
Aug. 12, 2020 3:15p
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Clive McKeef is a MarketWatch editor and writer based in New York.

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