Stocks – Wall Street Falls After Disappointing Earnings Results

0
11

Stocks - Wall Street Falls After Disappointing Earnings Results

Hot news – Wall Street was lower on Monday as mixed earnings results failed to continue the enthusiasm for equities seen overseas.

The S&P 500 fell 10 points, or 0.37%, to 2,757.59 as of 10:00 AM ET (14:00 GMT), while the Dow decreased 86 points, or 0.34%, to 25,358.11 and the tech-heavy Nasdaq Composite was down 12 points, or 0.17%, to 7,436.46.

Hasbro (NASDAQ:HAS) tumbled 6.15% after the company reported a bigger-than-expected drop in quarterly revenue after the impact of the bankruptcy of its long-term customer Toys ‘R’ Us. Halliburton (NYSE:HAL) was down 1.37% after the opening bell despite its earnings coming in higher than expected, while Kimberly-Clark (NYSE:KMB) rose 0.21% after its third-quarter results beat the consensus.

Earnings reports continue after the market closes, with results from Crane Company (NYSE:CR), Rent-A-Center (NASDAQ:RCII), Sonic (NASDAQ:SONC) and others.

Technology stocks were among the top performers, with Apple (NASDAQ:AAPL) up 0.39%, Facebook (NASDAQ:FB) rising 0.46% and Intel (NASDAQ:INTC) gaining 0.86%, while Advanced Micro Devices (NASDAQ:AMD) jumped 2.58%. Alibaba (NYSE:BABA) increased 2.6% amid news that it opened two data centers in the UK as part of its strategy to expand its cloud footprint in Europe.

But investors shunned shares of Netflix (NASDAQ:NFLX), which fell more than 3%.

Meanwhile, the Italian Treasury said it would not expand the budget deficit in 2020 and 2021, easing investor worry over the country’s debt crisis. A Moody’s report on Friday that kept Italy’s sovereign rating outlook at stable also helped boost investor confidence in Europe.

In commodities, gold futures increased 0.12% to $1,225.20 a troy ounce, while crude oil futures fell 0.74% to $68.61 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.25% to 95.68.

IQ Option accept all countries except Australia, Belgium, Israel, Iran, Canada, Latvia, Pakistan, Palestine, Russia, North Korea, Syria, Sudan, USA, Turkey and Japan. Also on iOS mobile app cannot trade users from: Malta, Cyprus, Dominican Republic; Android app is not available for: Malta, Cyprus, Myanmar, Liechtenstein, Cuba and Dominican Republic.

LEAVE A REPLY

Please enter your comment!
Please enter your name here