Stocks fall ahead of the highly anticipated monthly jobs report. After the bell Shake Shack reported quarterly results that beat while Walt Disney's earnings news was mixed. Jeanne Yurman reports.
Stocks fell on the eve of the U.S. jobs report. Dragging shares lower: utilities and healthcare stocks. Wells Fargo Investment Institute's Paul Christopher: SOUNDBITE: PAUL CHRISTOPHER, HEAD GLOBAL MARKET STRATEGIST, WELLS FARGO INVESTMENT INSTITUTE (ENGLISH) SAYING: "In the first place, we've had pretty good market action lately, so there is some time here to pause for some folks to take some profits. But we also have other things going on such as the employment report upcoming on Friday. That'll be a big one for the Fed." Healthcare stocks like Valeant fell after a Senate panel launched a probe into drug pricing. Qualcomm's shares were lower after the chipmaker issued a weak profit forecast. Ralph Lauren, however, the day's top gainer on the S&P 500. Strong European sales helped it to beat Street profit estimates. Travel agency Expedia is buying vacation rental site, HomeAway. That boosted both stocks. After the bell Walt Disney reported a revenue miss while Shake Shack's quarterly profit beat forecasts. Mixed news on the economic front: Jobless claims rose last week by the most in eight months. But productivity was higher in the third quarter. Solid earnings lifted shares in France and Germany, but Britain's FTSE 100 finished lower.