) all posted results for the end-of-year quarter that left a sour taste in investors’ mouths. The reports renewed questions about global economic demand, the effect of higher interest rates and whether the market’s January rally got ahead of itself.
Shares of the three companies dropped after the results were released and were expected to drag the market lower Friday following a euphoric rally Thursday. “When things started to reopen in December , we did see an increase in traffic to our stores as compared to November and an increase in demand as December rolled around,” Apple Chief Executive Tim Cook told Reuters.
Other U.S. consumer bellwethers painted a mixed picture. Consumer staples giant Clorox said product volumes fell in three of the company’s four business segments in the fourth quarter, while automaker Ford said the year ahead was going to be a difficult one.
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