NEW YORK (Reuters) - U.S. stocks tumbled aboard Monday aboard caution above all corporate results,for mounting negative pre-announcements left a lackluster profit growth viewpoint.
Wall Street has seen a slow begin to the year following a gangbusters 2013. After the S&P 500's bound of almost 30 percentage last anniversary its ahead price-to-earnings ratio is the highest among almost seven years and investors are weighing the risk of paying such a high bonus for earnings that may discern growth stall.
Almost 10 out of each eleven earnings pre-announcements for the current earnings season from S&P 500 companies have lowered estimates,along apt Thomson Reuters data.
Various companies that posted languid earnings or forecasts aboard Monday, including SodaStream , Lululemon Athletica , Express Inc and Aaron's saw their stocks get buffet hard.
"People have moved to the sidelines waiting for earnings apt get a little more legibility said Michael O'Rourke,chief mall strategist at JonesTrading surrounded Greenwich, Connecticut.
"Fundamentals are going apt have to advocate gains among the future he said, pointing apt the gradual decline in the provocation from the Federal Reserve that has pushed U.S. equities for one asset level higher.
After the stellar year stocks had amid 2013, "there's not need apt be aggressive in 2014 until the companies you attention about have reported earnings and given you one all-clear,[url=http://www.jordansairshoehotsale.com/kids-air-jordan-c-17.html]Kids Air Jordan[/url]," said O'Rourke.
The Dow Jones industrial mean fell 179.11 points or one.09 percent to 16,257.94, the S&P 500 lost 23.17 points alternatively an.26 percent to one,[url=http://www.jordansairshoehotsale.com/]Cheap Jordans[/url],819.two and the Nasdaq Composite dropped 61.36 points or one.47 percent apt four,113.304.
Investor anxiety translated into a willingness apt expenditure more for insurance against a leak among the S&P 500. The CBOE volatility Index VIX> jumped 9.4 percent apt 13.28 in its largest everyday percentage earn amid a month. The VIX,however remains at quite cheap historical levels.
Lululemon, Express Inc, Aaron's and SodaStream gave languid outlooks. Lululemon sank 16.6 percentage apt $49.70 meanwhile Express slid four.six percentage apt $18.15; Aaron's lost six.8 percent apt $27 and SodaStream plunged 26 percent apt $36.94.
But Wendy's viewpoint was a bright spot sending shares up six,[url=http://www.jordansairshoehotsale.com/air-jordan-4-c-7.html]Air Jordan 4[/url].four percentage to $8.98 then the fast-food restaurant chain estimated adjusted quarterly earnings on analysts' expectations.
In merger news, Beam Inc agreed to be acquired forward Suntory Holdings Ltd for $16 billion, including debt. Shares of Beam jumped 24.six percentage apt $83.42.
After the closing agitate Google agreed apt acquire Nest Labs Inc for $3.two billion amid cash. Google shares edged 0.six percentage higher amid after-market business,[url=http://www.jordansairshoehotsale.com/]Air Jordan Shoes[/url].
Volume was on mean with about 7.one billion shares traded aboard U.S. exchanges, compared with the six.44 billion average even now this month,according to data from BATS Global Markets.
Declining stocks outnumbered advancing ones aboard the NYSE and Nasdaq according a ratio of about 5 apt two.
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