Despite indications that the Federal Reserve would not raise interest rates in June, the markets closed lower with the Dow losing 26 points to 18,285. Nasdaq added a point to 5,071.
On the upside
Dycom Industries (NYSE: DY) reported sharply higher third quarter earnings that topped analyst estimates.
The Wall Street Journal reported that several potential suitors have approached Pep Boys (NYSE: PBY).
Shares of 500.com (NYSE: WBAI) continued climbing.
On the downside
CNinsure (Nasdaq: CISG) reported lower first quarter earnings that fell short of expectations.
Concerns that low fuel expenses will prompt airlines to cut air fares sent shares of American Airlines (Nasdaq: AAL), United Continental (NYSE: UAL) and Southwest (NYSE: LUV) tumbling.
Qihoo 360 Technology (NYSE: QIHU) reported higher first quarter earnings and revenue that surpassed expectations but the stock price fell.
In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The broader S&P 500 eased a point to 2125. Bitcoin held steady at $233.
Lower close even as Fed maintains rates
May 20, 2015 at 19:41 PM EDT