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| Dow, Nasdaq, and S&P by closing time (5:16 pm) |
- All three indexes dropped compared to yesterday
- Nasdaq, which recovered for a short time yesterday, dropped again
- All three indexes dropped consistently during trading time
- Oil price remains around $30
- $31.00 per barrel (5:00pm ET)
International Economy
- The Chongqing Casin Enterprise Group, a Chinese led group of investors, made a deal to buy the Chicago Stock Exchange, which has a history of 134 years and is one of America's oldest stock exchange.
- The outbreak of Zika Virus in Brazil, which is a mosquito borne virus that causes microcephaly(a neurological disorder that can result in incomplete brain development of a newborn baby), is dragging down the profits of airlines and tour industry.
- European bank shares are plunging more than oil stocks; Deutsche Bank (DB) has lost 31% so far this year, Unicredit (UNCFF)is down 35%, and Credit Suisse (CS)is 30% down. Barclays (BCLYF),BNP Paribas (BNPQF), Societe General (SCGLF), and UBS (UBS)have all lost about 20% since the beginning of 2016.
Individual Analysis
- The famous FANG stocks, which are Facebook(FB), Amazon(AMZN), Netflix(NFLX), and Google(GOOG) are plunging in value. Today, Amazon's share price breached below $500, and Netflix has plunged -23.10% in one month. Only Facebook managed to increase in value due to their strong earnings.
- As the annual Superbowl approaches, stocks that are involved with foods that are consumed during game day are increasing their values. These include Buffalo Wild Wings(BWLD) and Wingstop(WING).
- Volkswagen(VOW3), is postponing their earnings report due to the diesel emission scandal, and they are trying to figure out how much harm it would do to their share values.
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