Stocks Decline in Busy Earnings Week; Bonds Climb: Markets Wrap

McDonald’s, 3M and Harley-Davidson slump after results
Pfizer rallies after raising full-year earnings forecast

Carlos Tavares, chief executive officer at PSA Group Ltd., discusses the earnings outlook, incentive schemes and the proposed merger with Fiat.Source: Bloomberg

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By Rita Nazareth, Claire Ballentine, and Sarah Ponczek

July 27, 2020 at 5:43 PM EDT

Updated on

July 28, 2020 at 4:52 PM EDT

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U.S. stocks fell as traders assessed corporate earnings amid a resurgence in global coronavirus cases. Bonds rose.

The S&P 500 trimmed its monthly gain as worse-than-estimated results from McDonald’s Corp., 3M Co. and Harley-Davidson Inc. sent their shares slumping. Pfizer Inc. climbed after the drugmaker raised its earnings forecast and began a later-stage trial for a coronavirus vaccine with its German partner. Eastman Kodak Co. soared on news that it received a U.S. government loan.

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