Closing Bell TSX Wall Street finish lower amid mixed earnings reports glum

Here are the closing numbersTSX — 14,612.29     -84.74     -0.58% S&P 500 —  1,867.72     -16.94     -0.90% Dow — 16,401.02     -129.53     -0.78% Nasdaq — 4,080.76     -57.30     -1.38%TORONTO — The Toronto stock market closed lower Tuesday amid a heavy slate of earnings and a forecast that sees slower global economic growth.The S&P/TSX composite index declined 84.74 points to 14,612.29. The Canadian dollar was ahead 0.61 of a cent to 91.92 cents US. U.S. indexes were also well into negative territory with the Dow Jones industrials down 129.53 points to 16,401.02, the Nasdaq off 57.3 points at 4,080.76 and the S&P 500 index 16.94 points lower at 1,867.72.The Organization for Economic Co-operation and Development said the global economy will grow by 3.4% this year, down from its forecast of 3.6% growth last November.The OECD, a think-tank for the world’s most developed countries, cut China’s growth forecast this year to 7.4% from 8.2% in November. Meanwhile, the U.S. economy is forecast to grow 2.6% this year against last November’s 2.9% estimate. The news is better for Canada: economic growth is projected to accelerate to 2.75% by 2015.On the earnings front, BCE Inc. posted quarterly net earnings of $615 million, up 8.7% from a year ago, led by growth in its wireless and media divisions. Adjusted net earnings were $626 million or 81 cents, up 4.5% from a year ago and five cents better than forecast, but its shares lost 46 cents to $48.50 as revenue missed expectations.Also, subsidiary Bell added 33,964 postpaid net wireless customers, mostly smartphone subscribers on two-year contracts, down from 59,497 in the same quarter last year.“The story here is wireline is in a secular decline and wireless, with the price increases, it is showing signs of a slowdown,” said Ben Jang, portfolio manager at Nicola Wealth Management in Vancouver.“So, from an investment point of view, really, at these levels, the share price is quite fairly valued and I think you see that in the whole telecom space (and) sector valuations lack upside from here.” WestJet recorded quarterly net earnings of $89.3 million, or 69 cents per diluted share, compared with $91.1 million, or 69 cents a year ago. WestJet says total revenue totalled $1.042 billion, a gain of 7.7% over the same period of 2013. WestJet shares dropped 55 cents to $24.42.The tech sector led TSX decliners, down two% with BlackBerry falling 33 cents to $8.35.In New York, the rotation from expensive biotech and technology shares resumed and shares in Twitter plunged $6.90, or 17.8%, to $31.85 after company insiders were allowed to sell stock for the first time since the company’s initial public offering in November. Facebook fell 4.4% while Netflix shed 5.3%.The base metals sector dropped 0.94% with July copper unchanged at US$3.06 a pound.June bullion faded 70 cents to US$1,308.60 and the gold sector shed about 0.9%.The energy sector was off 0.24% while June crude in New York added two cents to US$99.50 a barrel.TOP STORIESBCE inches up on Rogers as Astral takeover and wireless growth propel profitTwitter shares dive 13% as 6-month investor lockup period comes to an endCanada needs better jobs data, auditor general saysAverage price for detached home in Toronto nears $1-million as demand for single-family homes stays strongWHAT’S ON DECK WEDNESDAYCANADA8:30 a.m.Building permits (March): Economists expect 4% rise UNITED STATES8:30 a.m.Productivity (Q1): Economists expect 1.2% decline 10 a.m.Fed Chair Janet Yellen testifies to join economic committee 3 p.m.Consumer credit (March): Economists expect US$15.5-billion CORPORATE NEWSCANADACI Financial Corp    Q1 earnings: Analysts expect 43¢ a share Cott Corporation    Q1 earnings:  2¢ Enbridge Inc    Q1 earnings:  56¢ Franco-nevada Corp Q1 earnings:  22¢ Husky Energy Inc    Q1 earnings:  61¢ Kinross Gold Corp    Q1 earnings:  3¢ Linamar Corp    Q1 earnings:  98¢ Lundin Petroleum Ab Q1 earnings: 34¢ Paramount Resources Ltd Q1 earnings: 10¢ loss a share Talisman Energy Inc Q1 earnings: 3¢ Taseko Mines Ltd    Q1 earnings:  2¢ Tim Hortons Inc Q1 earnings: 67¢ Torstar ‘b’     Q1 earnings: 14¢ UNITED STATESAllergan  Q1 earnings: Analysts expect US$1.13 a share Chesapeake Energy Q1 earnings: 48¢ Duke Energy Corp. Q1 earnings: US$1.12 Devon Energy Corp. Q1 earnings: US$1.26 Keurig Green Mountain, Inc. Q1 earnings: 95¢ Prudential Financial, Inc.   Q1 earnings: US$2.26 Molson Coors Brewing Company Q1 earnings: 35¢