Markets Right Now Stocks fall as weak earnings offset GDP

NEW YORK — The latest on developments in financial markets (all times local):9:35 a.m.Stocks are opening lower Friday after weak earnings reports offset a report showing solid growth in the U.S. economy.The economy grew at a solid 3.2%, the Commerce Department said, compared with 2.2% in the fourth quarter.Some earnings news disappointed investors. Intel gave a cautious outlook for the full year. Its stock fell 9.3% and dragged down other chipmaker stocks.Exxon Mobil fell 2.2% after both profit and revenue came up short of Wall Street expectations.The S&P 500 index fell 4 points, or 0.2%, to 2,921.The Dow Jones Industrial Average lost 44 points, or 0.2%, to 26,417. The Nasdaq fell 40 points, or 0.5%, to 8,077.Bond prices rose after the economic report. The yield on the 10 year Treasury fell to 2.49%.The Associated Press read more

Read More

Silent protest staged in Colombo over attack on Methodist Church

Prime Minister Ranil Wickremesinghe met the Inspector General of Police (IGP), Methodist Church Bishop Asiri Perera and others over the incident this week.At the meeting he advised the IGP to take action over the attack and provide protection to the church. (Colombo Gazette) Leaders from other religions also extended support to the protest. A group of about 25 people had threatened the Methodist Church Bishop Asiri Perera on Palm Sunday and then attacked the church with stones and firecrackers. A silent protest was staged in Colombo today over the attack on a Methodist Church in Anuradhapura.Clergy and members of various Christian denominations attended the protest staged near the Colombo Methodist Church. Photo courtesy Veerakesari online read more

Read More