GDP Surges, Tech Takedown, Stocks Drop
Stocks ended January down 3% for the month causing adherents to the January Effect to be wary. On this final trading day of January even a surging GDP figure could not keep the bears at bay. Disappointing results at major technology companies counteracted the best GDP figure in over 6 years. The DJIA gave back -53.13 to 10067.33, the Nasdaq dropped -31.65 to 2147.35 and the S&P 500 fell -10.66 to 1073.87.
^AMZN^: Announced it plans on buying back up to $2billion dollars worth of its shares resulting in price dropping 0.49% or 62 cents to $125.41.
^DD^: Climbed 0.90% or 29 cents to $32.21/share after announcing a joint venture to open a corn cob ethanol plant.
^SNDK^: Fell 11.67% or $3.36 to $25.42/share upon revealing its forecast sales missed analysts estimates.
^WMT^: A Goldman Sachs upgrade sent shares higher by 1.56% or 82 cents to $53.43.
Oil fell 92 cents to $72.72, gold gave back $1.60 to 1083.80 and the VIX index 3.75% to 24.62.
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