The stock rally that catapulted the S&P 500 to a 16-month high lost momentum after a flurry of companies reported disappointing earnings.
JetBlue Airways Corp. sank after slashing its full-year profit forecast and saying it would earn less than analysts expected this quarter. Pfizer Inc. slipped after the drugmaker reduced its sales outlook. Cruise operators fell as Norwegian Cruise Holdings Ltd. gave an earnings guidance that trailed the average analyst estimate. BMW AG dropped after warning about higher costs for developing electric cars, while logistics giant DHL Group gave a profit guidance that missed analyst estimates.