[ad_1]
The stock market fell on Thursday because of disappointing earnings, which led to a number of rising stocks and weak oil prices weighing on energy stocks.
X
The Dow Jones Industrial Average fell 0.5% and the S & P 500, 0.2%, while the Nasdaq fell nearly 0.2%. But Russell 2000 small-cap stocks rose 0.4%.
So far this year, the Nasdaq has added 21.3%, the S & P 500 16% and the Dow around 12.3%.
NYSE volume rose 11%, while Nasdaq revenue increased 3%, according to preliminary data.
Both the Nasdaq and S & P 500 indexes hit record highs on Monday after last week's announcement of a much stronger-than-expected economy, including a 3.2% GDP growth in the first quarter. The Dow, meanwhile, remains below its record.
Earnings Rule Markets
During Thursday's session, the financial results contributed significantly to the action.
Manufacturer of clothing and sports equipment Under protection (UC) posted a higher than expected profit, sending its shares up 3.6%. The main competitor of Under Armor, the giant of sneakers and sportswear Nike (NKE), dropped 0.7% in response and is now trading below its 50-day average line, a key test.
But manufacturer of microchip hardware Shout (CREE) did not meet Wall Street's revenue forecast and is not optimistic about its future prospects. At first, it was sold sharply, down 14% from the peak reached intraday. But it rebounded sharply in trading in the afternoon, closing up 2.2%. Cree remains more than 25% extended on a purchase point of 47.60 and investors can take profits.
Square (QS) fell 8% after reporting a slowdown in revenue growth and payment processing. Square fell several times below its average 50-day line, even forming a base. Despite a composite rating of 92, out of a maximum of 99, the company's rating of 73 EPS is a red light for investors.
Technical names take hits
Another major technological name, Qualcomm (QCOM), the estimated revenue would be lower than the Wall Street forecast in the third quarter, due to the slowing down of mobile phone orders in China. The revised outlook came one day after Qualcomm announced that it would reserve a $ 4.5 billion payment from Apple for patent litigation. It increased by 0.8%.
Giant of iconic technology Apple (AAPL) fell 0.7%, but remained slightly extended compared to its purchase area from 197.79 to 207.57. Apple's shares were exceeded on Tuesday by better than expected results.
IPO of outdoor products Yeti (YETI) fell 9%, its second consecutive daily collapse, despite significantly better sales and profits than expected. He is now 16% below Tuesday's close, but remains more than 50% above his escape at 19:30. The Yeti has a composite score of 88, an EPS rating of 98 and a score of 99 RS.
Some big movers
Among the IBD's moving shares, Shopify (SHOP) jumped 4%, extending gains after a breakout after consolidation in 29 weeks. Since hatching, the stock has increased by 45% in two months. It has a composite score of 96 and a score of 98 RS from IBD, but only a score of 73 EPS.
Vulcan Materials (VMC), a manufacturer of concrete and construction aggregates, advanced 4.4% after largely beating analysts' estimates for the first quarter. After separating from the base with a 121.70 point purchase point, Vulcan is now slightly extended over its purchase area.
Among exchange-traded funds, the innovative IBD 50 ETF (FFTY) rose by 0.1%. So far this year, it has increased by 23%.
Bullish economic news
Recent economic news is an important framework for recent market gains.
For the first quarter, productivity increased by 3.6%, above expectations and at the highest level since 2014. Challenger, Gray & Christmas's monthly report on planned job cuts in companies fell to 40,023 out of 60,587 in March. The number of new UI claims, meanwhile, rose to 230,000, slightly above expectations, but close to record lows.
Also on Thursday, the government announced that factory orders rose 1.9% in March, exceeding estimates by 1.5%. West Texas Intermediate crude traded 3% to 61.81 in trading on Thursday, while the 10-year Treasury bond climbed 5 basis points to 2.55% following a promise made on Wednesday by the Fed chief. , Jerome Powell, to keep interest rates.
YOU COULD ALSO LIKE:
After working hours: Eight main titles are progressing
What actions are marked as eruptions by MarketSmith? Check here
What is a Blue Chip stock?
IBD Digital: Unlock IBD's Stocks, Tools, and Premium Scans today
[ad_2]
Source link