Wall St slips ahead of French election

Honeywell International Inc. boasted quarterly profit that exceeded analysts' estimates and boosted its full-year guidance.

Wall Street closed lower Friday as investors awaited this weekend's French presidential election and President Trump's "big announcement" on tax reform planned for Wednesday.

Of the 57 companies in the S&P 500 that have reported earnings through Wednesday morning, about 75 percent have topped expectations, according to Thomson Reuters data, above the 71 percent average for the past four quarters.

Overall, profits of S&P 500 companies are estimated to have risen 11.2 per cent in the quarter, the most since 2011.

Mounting tensions between North Korea and the United States have also kept investors cautious. "Friday should be a risk-off trading day ahead of the election".

The first round of France's presidential election might be too close to call when polls close today, because initial projections will not be available as early as in the past, pollsters and their watchdog said.

Warm greetings for new International Space Station crew
The spacecraft has reached low Earth orbit and is heading for the International Space Station (ISS), according to the source. Her two crewmates - Novitskiy and Pesquet - will return to Earth as planned June 2 to close out a 196-day stay in space.

Oil prices were little changed in a seesaw trading session, as investors weighed rising USA production against comments from leading Gulf oil producers that an extension to OPEC-led supply cuts was likely. Revenue slipped 1% to $27.66 billion from $27.85 billion, but was above the FactSet consensus of $26.37 billion, as GE's power, renewable energy, oil-and-gas, aviation, health-care and transportation businesses beat expectations, while energy connections missed.

The Dow Jones Industrial Average advanced 94.51 points, or 0.5%, to 20,547.76 last week, while the Standard & Poor's 500 index rose 0.8% to 2,348.69.

Nasdaq 100 e-minis were up 8.5 points, or 0.16 percent, on volume of 20,789 contracts. The manufacturer's stock closed almost 3 percent higher. U.S. stocks rallied yesterday, with the Nasdaq closing at a record, as a round of solid earnings led by American Express pushed equities higher.

Key companies scheduled to report results on Thursday include Dow component Visa and toymaker Mattel.

Declining issues outnumbered advancing ones on the NYSE by a 1.09-to-1 ratio; on Nasdaq, a 1.22-to-1 ratio favored decliners.

The S&P 500 posted 28 new 52-week highs and one new low; the NASDAQ Composite recorded 92 new highs and 39 new lows.

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