TOCKS fell for a fourth straight session yesterday, but indexes ended well off session lows with support from economic data and earnings, including Accenture’s.
The Dow Jones industrial average fell 40.31 points, or 0.23 per cent, to 17,678.23, the S&P 500 lost 4.9 points, or 0.24 per cent, to 2,056.15 and the Nasdaq Composite dropped 13.16 points, or 0.27 per cent, to 4,863.36.
Semiconductor stocks were again under pressure, this time after SanDisk cut its revenue outlook. Its shares tumbled 18.4 per cent to $66.20.
Accenture’s quarterly net revenue rose five per cent, helped by growth in its outsourcing business as North American companies look to cut costs. Its shares rose 6.8 per cent to $94.17. Red Hat rallied 10.1 per cent to $75.36 after it forecast a profit for the first quarter .