US markets slip after record intraday highs on mixed earnings
US stock markets, including the S&P 500 and Nasdaq, slipped on Thursday after hitting record intraday highs earlier that day.
The drop came as investors reacted to mixed company earnings and rising tensions in the Middle East.
Even with some hopes for diplomatic talks with Iran, analysts pointed out that the market's recent rally wasn't really backed by strong economic data.
PepsiCo up, Abbott down, Fed uncertainty
Company earnings were all over the place: PepsiCo's shares jumped 2% thanks to better-than-expected profits, but Abbott fell more than 4% after lowering its outlook.
Banks mostly beat expectations, which helped calm some nerves, but losses in tech and consumer stocks dragged things down overall.
Meanwhile, talk about changes at the Federal Reserve added another layer of uncertainty for investors trying to make sense of a pretty unpredictable market week.