Stocks fall on Wall Street amid latest earnings reports

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks shed early gains and were broadly lower in afternoon trading on Wall Street Thursday as traders reviewed the latest round of earnings reports from several big U.S. companies. The S&P 500 fell 0.9%, the Dow Jones Industrial Average fell 0.4% and the Nasdaq fell 1.5%. American Airlines rose after telling investors it expects to turn a profit in the second quarter as more people return to travel. That upbeat outlook helped push rival airlines and other travel-related companies higher. Tesla rose after the maker of electric cars and solar panels reported strong sales and a seven-fold increase in profits.