American Express shares dip after earnings. Here's how to play the stock

Stocks
were
mixed
Friday
as
traders
assessed
the
latest
corporate
earnings
results,
and
the
Dow
Jones
Industrial
Average
stretched
its
winning
streak
to
10
sessions.

The
30-stock


Dow

climbed
2.51
points,
or
0.01%,
to
close
at
35,227.69.
The


S&P
500

added
0.03%
to
end
at
4,536.34,
while
the


Nasdaq
Composite

fell
0.22%
to
finish
the
session
at
14,032.81.

The
Dow
narrowly
notched
its
tenth
straight
day
of
gains,
a
feat
not
seen
for
the
index
since
August
2017.

On
a
weekly
basis,
the
S&P
500
added
0.69%,
while
the
Dow
gained
2.08%.
It
was
the
second
positive
week
in
a
row
for
the
two
indexes.
The
Nasdaq
fell
0.57%
for
the
period.


Trading
was
volatile
Friday
 as
portfolio
managers
recalibrated
their
funds
to
account
for
an
unusual


Nasdaq-100

rebalance
taking
effect
Monday.
A
large
volume
of
index
and
stock
options
also
expired
Friday.

Traders
were
still
eyeing
more
corporate
earnings
after
a
busy
week
of
quarterly
results.
Transportation
giant


CSX

fell
3.7%
on
the
back
of
underwhelming
results.


American
Express
,
meanwhile,
dropped
nearly
3.9%.

Corporate
earnings
have
been
mixed
thus
far.
Seventy-five
percent
of
S&P
500
companies
that
have
already
reported
have
exceeded
analysts’
expectations,
according
to
FactSet
data.
However,
that
beat
rate
is
below
a
three-year
average
of
80%,
according
to
The
Earnings
Scout.

“…Overall,
early
Q2
results
appear
good
enough
for
equity
markets
to
grind
higher
for
now,”
Barclays’
Emmanuel
Cau
wrote
in
a
Friday
note.
“Next
week
will
be
more
indicative
of
the
broad
earnings
dynamics,
with
~50%
of
market
cap
reporting.”



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