The S&P 500 fell 54 points, or 1.21%, to 4,392.59.Stocks on Wall Street closed lower on Thursday as traders went home to celebrate the long Easter weekend while bond yields resumed their northerly trajectory and investors contended with mixed earnings, the European Central Bank's dovishness andAll three major US stock benchmarks posted weekly losses ahead of the Good Friday holiday.
Looking forward, the first-quarter reporting season will be the focus that has started to get underway, albeit with only 34 of the companies in the S&P 500 having reported. ''Analysts now expect aggregate annual S&P 500 earnings growth of 6.3%, less optimistic than the 7.5% growth projected at the beginning of the year,'' Reuters reported.
Meanwhile, in currencies, the euro plunged to a two-year low against the greenback following comments from that have been taken as a signal to markets that there will be no hurry to raise interest rates. However, the ECB said it plans to cut bond purchases this quarter, and then end them at some point in the third quarter. The dollar index climbed to a fresh cycle high of 100.761 with
falling to a low of 1.0757. The US benchmark 10-year yield has scored highs of 2.833%, currently 4.55% higher on the day following two days of declines.
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