NEW YORK, Feb. 1-- U.S. stocks pulled back in the busy week featuring a flurry of earnings reports and a key monetary policy decision from the Federal Reserve. In the week ending Jan. 31, the Dow lost 2.53 percent, the S&P was down 2.12 percent and Nasdaq shed 1.76 percent. U.S. stocks logged a sharp drop on Friday, with the Dow plunging more than 600 points amid a steep market sell-off led by energy shares. Both the 30-stock index and S&P 500 index notched their biggest one-day falls since August. Energy companies lined up to release quarterly results on Friday. Shares of Exxon Mobil dropped more than 4 percent after the U.S. oil giant delivered fourth-quarter earnings that fell short of expectations. Chevron stock also struggled on its weaker-than-anticipated quarterly results. The S&P 500 energy sector dipped 3.18 percent on Friday, the worst-performing group. For the week, the energy group declined 6.75 percent. Amazon stock jumped 7.38 percent Friday fueled by its blowout quarterly earnings. U.S. top electric vehicle maker Tesla delivered stronger-than-expected quarterly profits, sending the stock up more than 15 percent for the week. Facebook shares struggled after the U.S. social networking company reported quarterly results that showed a sharp rise in expenses and narrowing margins. On Tuesday, U.S. tech giant Apple reported a record 91.8 billion U.S. dollars in revenue for the first quarter of fiscal 2020 boosted by an uptick in iPhone sales during the period. |