U.S. stocks snap modest winning streak

A day of mostly listless trading ended with U.S. stocks giving back modest gains from the day before.

A day of mostly listless trading on Wall Street ended Thursday with U.S. stocks giving back modest gains from the day before.

Telecom sector stocks declined the most, weighed down by a slide in shares of AT&T, Sprint and other phone companies. Only health care stocks eked out a gain. The broad slide snapped a two-day winning streak for the market. Energy futures and precious metals also closed lower.

Investors mostly waded through another round of earnings reports, looking to glean insights into the health of corporate America and the U.S. economy. While some companies turned in disappointing results, most of those that have posted earnings so far are beating financial analysts’ expectations, said JJ Kinahan, chief strategist at TD Ameritrade.

“Overall, it’s been a very, very good earnings season,” Kinahan said.

The Dow Jones industrial average slipped 40.27 points, or 0.2 percent, to 18,162.35. The Standard & Poor’s 500 index lost 2.95 points, or 0.2 percent, to 2,141.34. The Nasdaq composite index slid 4.58 points, or 0.1 percent, to 5,241.83.

The major stock indexes are all up for the week.

About 15 percent of the companies in the S&P 500 have reported quarterly results so far this earnings period. Of those, more than 80 percent have turned in earnings that beat Wall Street’s expectations, Kinahan said.

Financial companies have been among the best performers so far.

On Thursday, investors bid up shares in American Express, which reported better-than-anticipated earnings late Wednesday and also raised its annual outlook. The stock was the biggest gainer in the S&P 500, climbing $5.53, or 9 percent, to $66.78.

“Financials continue to perform and continue to provide support, American Express being the latest example,” Kinahan said.

Toy maker Mattel also got a boost a day after it reported strong earnings. The stock rose $1.84, or 6 percent, to $32.46.

Snap-on climbed 6.7 percent after the tool and diagnostic equipment maker posted a larger profit than analysts had forecast. Its shares rose $9.95 to $159.06.

Several other companies posted results that failed to impress investors.

EBay slumped 10.8 percent after the e-commerce giant reported disappointing fourth-quarter results. The stock was the biggest decliner in the S&P 500, sliding $3.50, or 10.8 percent, to $29.02.

Union Pacific fell 6.7 percent after it said weak demand for consumer goods had dampened its freight and coal shipments volume. The railroad operator lost $6.48 to $90.64.

Verizon fell 2.5 percent after the company posted weak quarterly revenue as it added far fewer wireless and internet service subscribers than a year ago. Shares in the company, which is in the process of a potential acquisition of Yahoo’s digital operations, shed $1.24 to $49.14.

Shares in other phone companies also fell. AT&T lost 73 cents, or 1.9 percent, to $38.65, while Sprint fell 16 cents, or 2.3 percent, to $6.72. TMobile US slid 27 cents, or 0.6 percent, to $47.05.

RICHARD DREW — THE ASSOCIATED PRESS FILE In this file photo, the statue of George Washington on the steps of Federal Hall faces the facade of the New York Stock Exchange. Weak results and forecasts from companies send stocks slightly lower in early trading on Wall Street, Thursday.