US stocks rally loses momentum on weaker earnings

The S&P 500’s 16-month high has lost momentum due to disappointing earnings from several companies. Traders also waded through mixed data on job openings, with JetBlue Airways retreating after slashing its full-year profit forecast and saying it would earn less than analysts expected this quarter.

Cruise operators fell as Norwegian Cruise Holdings Ltd. gave earnings guidance that trailed the average analyst estimate. BMW AG dropped after warning about higher costs for developing electric cars, and logistics giant DHL Group gave a profit guidance that missed analyst estimates.

The results highlight growing concern about corporate earnings durability and questions about whether stocks can continue gaining. With the S&P 500 now less than 5% away from an all-time high, investors are taking a pause before US employment figures and earnings from giants Apple and Amazon. The rally has halted a two-day advance, and the dollar rose against all of its Group-of-10 counterparts.