 |
| Dow, Nasdaq, and S&P500 by closing time (5:46pm ET) |
 |
| Dow and Nasdaq throughout trading hours (4:44pm ET) |
- Dow and S&P closed higher than yesterday, and Nasdaq closed lower than yesterday.
- Oil prices and raw material prices went higher, but the IT industry was performed very badly.
- That was also the reason why only Nasdaq closed lower than yesterday.
- Oil price soared up to $41 per barrel
- $40.96 per barrel (5:07pm ET)
- Market started with an incline as raw material prices and oil prices soared, but in the middle IT companies like Netflix and IBM stocks plunged, causing the overall indexes to collapse.
International/U.S. Economy
- Oil prices continued to soar up as production decreased because of strike in Kuwait and fire in Nigeria's oil pipe.
- European Market was bullish as oil price soar and companies released better earnings. English FTSE100 rose 0.82%, German DAX rose 2.27%, and French CAC 40 rose 1.32%.
- US Dollar turned bearish due to poor economic barometers, which may lead to lowering standard interest. Dollar index dropped 0.54% today.
Individual Analysis
- Netflix (NFLX) shares dropped 12.97% as they released their quarter reports with disappointing international subscriber growth, which added only 4.5 million subscribers abroad.
- IBM (IBM) shares also plunged as they released their quarter report with lower net profit, which dropped from $2.3 billion to $2 billion.
- Illumina (ILMN) shares plunged 23.16% as the company warned that it would miss on first quarter revenue and lowered revenue estimates for the full year.
No comments:
Post a Comment