Midday Report: GE Swings to First-Quarter Profit; Stocks Mostly Lower

Stocks are mostly lower as positive earnings from industry leaders including GE and Visa can't fully distract from concerns stemming from the upcoming French election.

Author:: Keris Alison Lahiff
Publish date:: Apr 21, 2017 12:34 PM EDT

Stocks were mostly lower as positive earnings from industry leaders including GE (GE) - Get Report and Visa couldn't fully distract from concerns over the upcoming French election. The first round of voting in France's closely watched presidential election will take place over the weekend. Existing home sales jumped in March at their best pace since 2007. Sales of previously-owned properties rose more than 4% last month, benefiting from strong demand in the housing market. General Electric swung to a first-quarter profit, thanks to growth in its oil and gas, health, transportation and power businesses, among others. Revenue dropped 1%, though came in higher than consensus. Honeywell (HON) - Get Report rose after exceeding analysts' estimates in its recent quarter. The industrials conglomerate also increased the low-end bracket of its fiscal guidance by a nickel.