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.



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This article appears in: Investing , Commodities

Referenced Stocks: LNKD , PF , SODA , VZ , YELP

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