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General Electric Co.’s stock fell 1.3% in morning trade Wednesday, which puts it on track for the worst weekly performance in over seven years, in the wake of the industrial conglomerate’s disappointing third-quarter results. The stock, which was headed for the lowest close since April 23 2013, has now tumbled 9.4% so far this week. That would be the worst three-session decline since it plunged 11.7% over the three-day stretch ending Aug. 8, 2011, and the biggest weekly decline since it tumbled 10.5% for the week ending May 7, 2010. GE reported late Friday earnings that missed expectations for the first time in 2 1/2 years. The stock reversed an early selloff to close higher that day, but then fell 6.3% Monday and 1.9% Tuesday. Wednesday’s slide would mark three-straight 1%+ declines since it fell 1.6%, 4.2% and 1.8% over three days ending Jan. 8, 2016. GE’s stock has now tumbled 15% over the past three months and 32% year to date, while the Dow Jones Industrial Average has gained 8% in three months and 18% this year.

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Data from the U.S. Energy Information Administration Wednesday showed that domestic crude supplies rose by 900,000 barrels for the week ended Oct. 20. That contradicted the forecast for a decline of 425,000 barrels by analysts surveyed by S&P Global Platts. The American Petroleum Institute on Tuesday reported a 519,000-barrel climb. Gasoline stockpiles dropped by 5.5 million barrels for the week, while distillate stockpiles fell 5.2 million barrels, according to the EIA. The S&P Global Platts survey forecast drops of 2.3 million barrels for gasoline and nearly 2.1 million barrels for distillates. December crude was down 11 cents, or 0.2%, from Tuesday to $52.36 a barrel on the New York Mercantile Exchange. It was trading at $52.22 before the supply data.

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Republicans continue to weigh adjustments to 401(k) plans as part of a tax-code overhaul, House Ways and Means Committee Chairman Kevin Brady said Wednesday. Brady’s comment to a Christian Science Monitor breakfast came after a tweet by President Donald Trump on Monday that there would be “no change” to the 401(k) retirement savings program. Asked about Trump’s tweet, Brady said Republicans are “exploring a number of ideas” about creating incentives to save more and save sooner, according to The Wall Street Journal.

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The Canadian dollar fell to its lowest level since mid-July against the U.S. dollar on Wednesday after the Bank of Canada left its key interest rate unchanged at 1%. Traders had anticipated the central bank to keep rates on hold during the October meeting after Canadian economic data was mixed of late, including a big miss in retail sales data last week. BOC Gov. Stephen Polok also continuously reiterated that policy decisions would be data-driven, causing traders to adjust their expectations. Yet, the U.S. dollar jumped to a three-month high against its Canadian counterpart , buying $1.2770 versus C$1.2675 late Tuesday.

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The U.S. dollar registered a sharp drop against the Mexican peso early on Wednesday, after the Bank of Mexico said it would up its hedges against against the U.S. currency due to market volatility. The hedges will grow by $4 billion, according to the statement. The central bank cited the volatility around the renegotiation of the North American Free Trade Agreement as well as the Federal Reserve’s monetary policy normalization as reasons. Banxico’s total $20 billion hedging program was originally announced in February. One U.S. dollar bought 19.0068 pesos on Wednesday, compared with 19.2336 pesos late Tuesday, bringing the currency pair to a two-day low.

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Stocks opened with a soft tone Wednesday as investors continued to digest a tide of corporate earnings. The S&P 500 and Nasdaq Composite each shed 0.1%. The Dow Jones Industrial Average flipped between tiny gains and losses and was last up 7 points, a day after closing at the latest in a string of all-time highs.

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The New York Times Co. said on Wednesday that Chief Financial Officer James Follo plans to retire early next year. Follo joined the Times as CFO in 2007. He said the past 10 years have been an honor, helping lead the newspaper though a major shift in the industry. “The Times’s mission has never been more important and I firmly believe that the company is well positioned for continued success,” Follo said in a statement. The New York Times said it will retain an executive search firm to help find Follo’s successor, and that the paper is considering candidates from inside and outside of the organization. Shares of the New York Times have gained nearly 48% in the year to date, while the S&P 500 index is up nearly 15% and the Dow Jones Industrial Average is up close to 19%.

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HSBC initiated coverage of Apple Inc. stock on Wednesday with a buy rating and a $193 price target with analysts saying a large and loyal user base is eager to get hold of the iPhone X. Analysts led by Steven Pelayo said they are trying to take a unique look at Apple by embracing its marketing slogan and trying to ‘think different,’ using the perspectives of its analysts from around the world. The bank’s consumer team says Apple is not just a tech company, but also competes with luxury brands for talent, wallet share and locations. The telecom team says the U.S. is a key market and that technologies like AI, AR and foldable phones will drive demand. The internet team believes China competition is not just with handset makers, but also with Tencent in services and with super apps like WeChat as a platform for mobile payments. “The Automotive team expects heavy competition between current and future entrants around electrification, automation, entertainment and connectivity over the next few years,” said Pelayo. “The question is what level of vertical integration is required from an OEM perspective.” Apple shares were flat in premarket trade, but have gained 35.6% in 2017, while the Dow Jones Industrial Average has gained about 19% and the S&P 500 has gained 15%.

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Shares of Boeing dropped $2.75, or 1.0%, in premarket trade Wednesday, as better-than-expected third-quarter results weren’t enough to appease investors after recent sharp gains. The price decline would shave about 19 points off the price of the Dow Jones Industrial Average , and Dow futures were down 8 points ahead of the open. Boeing’s stock had run up 25% over the past three months through Tuesday, while the Dow had gained 8.5%. The other Dow component to report results early Wednesday was Visa Inc. , and the stock was 79 cents, or 0.7%, in premarket trade, which would add about 5 points to the Dow.

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Sprint Corp. reported a narrower than expected second-quarter loss before the market opened on Wednesday. Shares of the wireless company were up nearly 2% after the report, but turned negative soon after. Sprint reported a net loss of $48 million, or 1 cent per share, compared with a loss of $142 million, or 4 cents per share during the same period a year ago. FactSet’s consensus was for a loss of 2 cents per share. Revenue for the quarter was $7.93 billion, down from $8.25 billion a year ago and below FactSet’s consensus of $8.07 billion. The company said it added 378,000 new wireless members during the quarter, and postpaid phone additions grew 10% year-over-year. Sprint said its 2017 outlook is unchanged. The company still expects adjusted earnings before interest, taxes, depreciation and amortization in the range of $10.8 billion to $11.2 billion, and operating income in the range of $2.1 billion to $2.5 billion. Shares of Sprint have declined nearly 17% in the year to date, while the S&P 500 index is up nearly 15% and the Dow Jones Industrial Average is up close to 19%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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