Stocks Falling From Record Highs Following Mixed Earnings Results, Pre-FOMC Profit-Taking


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Stocks retreated off record highs today as mixed earnings coupled with light profit-taking pressure before the conclusion of today Federal Open Markets Committee meeting erases most of this morning's gains. The tech-heavy Nasdaq Composite index is under pressure after missed earnings from Yelp ( YELP ) and LinkedIn ( LNKD ), along with home soft-drink dispenser Soda Stream ( SODA ), while Verizon ( VZ ) and Pfizer ( PF ) are dragging the Dow Industrials index lower. While the Federal Reserve is expected to keep its quantitative easing program in place, the potential for more aggressive profit-taking after the FOMC's 2 p.m. ET statement also is driving retracement off this morning's highs.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities
More Headlines for: LNKD , PF , SODA , VZ , YELP

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