Stocks have erased Thursday's gains, trading sharply lower today following disappointing earnings from Amazon.com (AMN) and Mattel ( MAT ) and overshadowing an increase in consumer spending during December. The major market gauges all are trading at their best levels of the session, picking up some support after consumer sentiment as measured by Thomson Reuters and the University of Michigan beat forecasts. Still, the Dow Jones Industrials Index remains down by nearly triple digits, closely followed by steep declines for the S&P 500 and the Nasdaq Composite indices. Continued pressure on emerging markets as well as weakness for European equities also are pressing on share prices.
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