Stocks Sink, Home Sales Surprise, Railroads Warn
Stocks gave back all their weekly gains today despite surprisingly positive home sales figures. Very strong earnings from several large tech names were not enough to counteract dire forecasts from the railroad business. Railroads are believed to provide an economic early warning signal due to their role in transporting goods. The DJIA fell -109.13 to 9972.18, the tech heavy Nasdaq gave back -10.82 to 2154.47, and the broad based S&P 500 dropped -13.31 to 1079.60.
Amazon
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PowerRating): Soared 26.80% or $25.04 to $118.49/share after crushing analysts estimates.
Netflix
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PowerRating): Climbed 10.60% or $5.26 to $54.89/share upon revealing its third quarter estimates surged 48%.
Interactive Brokers
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PowerRating): Missed third quarter estimates sending the stock down by 13.91% or $2.72 to $16.84/share.
Chipotle Mexican Grill
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PowerRating): Fell 8.01% or $7.17 to $82.35/share after stating sales will likely stay neutral for the next year.
Oil fell 69 cents to $79.67, gold dropped $2.20 to 1056.00 and the VIX finally climbed 7.64% to 22.27.
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