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Dow snaps 3-day winning streak as Walgreens falls on earnings

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It was a mixed day for markets as the Dow fell for the first time in 4 days and the S&P 500 closed just above the flatline. A sharp decline in Walgreens Boots Alliance kept the market in check after the company reported weaker-than-expected earnings.

div > div.group > p:first-child"> The 30-stock Dow closed 79.29 points lower at 26,179.13. The S&P 500 ended the day just above the flatline at 2,867.24, while the Nasdaq Composite gained 0.25 percent to close at 7,848.69.

Benedict added the March jobs report — which is scheduled for release Friday morning — could be the catalyst for stocks to reach record highs."These numbers on Friday are really much more important to what's going to happen in the next move from here." The data sent Treasury yields surging on Monday, which in turn lifted bank stocks. Rates were down slightly on Tuesday, as the benchmark 10-year yield traded at 2.47 percent.

"We see a repeat as unlikely and a narrower path for a grind higher," Turnill said in a note."The global economy must remain strong enough to quell recession fears but weak enough to keep policymakers on hold, we believe."

 

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