Stock Markets Ease Lower; DraftKings Earnings, iQiyi Investigations Hit Shares
Friday morning began quietly on Wall Street, with a general lack of news allowing major market benchmarks to stay close to where they began the day. Some market participants pointed to disappointing economic data on retail sales as a sign of negative consumer sentiment, but they didn't seem to assign it too much weight. Just after 11 a.m. EDT today, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 7 points to 27,890. The S&P 500 (SNPINDEX: ^GSPC) fell a single point to 3,373, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 37 points to 11,006.
Even among individual stocks, there wasn't a lot of market-moving news. DraftKings (NASDAQ: DKNG) released its latest financial results, and even though the company did the best it could during a tough environment for sports betting, shareholders weren't pleased with what they saw. Meanwhile, iQiyi (NASDAQ: IQ) got even worse news on the regulatory front, becoming the latest Chinese company to deal with controversy.
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Source Fool.com