Wall Street sinks as Amazon, Alphabet earnings spark growth concerns
Wall Street sinks as Amazon, Alphabet earnings spark growth concerns
Stocks Slammed! Dow Plunges More Than 600 Points
28 October, 2018, 22:19
Stock markets turned higher in European trading Thursday as investors settled somewhat after steep declines in Asia and the USA spurred by worries over trade and the US economy.
Advancing issues outnumbered declining ones on the NYSE by a 2.35-to-1 ratio; on Nasdaq, a 2.43-to-1 ratio favored advancers. On Wednesday it edged up 0.6 per cent Brent crude, used to price worldwide oils, gained 4 cents to $76.21 a barrel.
While third-quarter profit growth estimates have risen to 22.4 percent from 21.6 percent in the last 10 days, weaker forecasts have pulled down fourth-quarter growth estimates to 19.5 percent from 20 percent, according to I/B/E/S data from Refinitiv.
Twitter soared 15.5 percent to $31.80 and electric vehicle maker Tesla jumped 9.1 percent to $314.86 after their quarterly reports, while video game maker Take-Two vaulted 8.8 percent to $120.70 after strong reviews for its latest game, "Red Dead Redemption 2".
The Dow Jones Industrial Average gained 1.6 percent to 24,984.55, while the broad-based S&P 500 advanced 1.9 percent to 2,705.57.
Microsoft jumped 5.4 percent, Visa rose 2.9 percent and Comcast climbed 3.3 percent.
Ford, which is struggling with sales in China, rose 9.9 percent as its earnings report raised hopes for a strong finish to the year, bolstering gains in the consumer discretionary sector .SPLRCD .
Other major companies also fell sharply.
Bond prices rose as investors sought safety, sending yields lower.
Dodgers win record seven-hour World Series game
It will be all about the narrative when the Boston Red Sox and Los Angeles Dodgers meet in Game 5 of the World Series on Sunday. Clayton Kershaw , who gave up five runs and seven hits in four-plus innings in an 8-4 loss in Game 1, starts for the Dodgers .
So-called FANG stocks and other tech shares sank in extended trade on Thursday following disappointing quarterly reports from Amazon.com Inc and Alphabet Inc.
Despite the tumbling stock prices, the US economy looks solid.
Concerns about rising rates and the trade war have spooked the markets this month. The 30-stock index rose 71 points, or 0.3 percent, to 25,259. Britain's FTSE 100 slid 1.3 percent.
Investors have grown concerned in recent weeks that Corporate America's tax cut-fuelled earnings growth this year will fade in coming months amid rising inflation, uncertainty over the escalating trade conflict between the U.S. and China and the likelihood of higher interest rates. The technology-heavy Nasdaq composite had...
Energy had a sector-wide loss of more than two per cent on Tuesday, extending its losses for the month beyond 10 per cent, after oil prices plunged to two- month lows.
Alphabet Inc fell by 4.2 percent today after revealing its revenue missed estimates.
Benchmark U.S. crude lost 6 cents to $66.76 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price global oils, slid 0.4 percent to $76.17 a barrel in London. Gold, another safehaven, jumped to its highest level since July - at around $1,234 per ounce.
The dollar weakened to 112.08 yen from 112.23 yen. The stock fell as much as 5.6 per cent before recovering to end down just 1.8 per cent. Hong Kong's Hang Seng index dropped 0.4 percent and the Kospi in South Korea gave up 0.4 percent.
Financial markets have been roiled by the U.S. "Signs are mounting that shale won't keep growing at the same rate in the U.S. Brent crude slumped by around $1.05 and was being traded slightly below the $79 mark, at $78.84 a barrel.
South Korea on Thursday had confirmed its soldiers had found war remains in a different front-line area. About 28,500 USA troops are deployed in South Korea to deter potential aggression from North Korea.
The attack took place in the the city's outskirts as children were returning to classes, according to The Associated Press . Police have denied media reports that two children died, using social media to urge people not to pass on "rumours".
Tesla, for example, made air suspension and all-wheel drive standard on the 2017 Model S, and it affected the car's reliability. In May, Consumer Reports recommended the Model 3 after its latest tests showed a software update improved the car's braking.
His former employers expressed their concern at the information, posting on the official England Twitter account: "Worrying news. Hoddle's last managerial position was with Wolves , which he left in 2006 after being with the club for two years.
The gunman, who has been described as a white man with a beard, is in custody. "These people should pay the ultimate price". There is heavy police activity in the area, according to KDKA . "Officers who were shot and to all the first responders".
Drummond - who was ejected in the win over the 76ers - had 20 points and 20 rebounds through three quarters against Cleveland. "Thought our bench was great all night - even in the first half, I thought they did a great job", coach Tyronn Lue said.
But some big spenders on ads "related to issues of national importance " appear to be vendors chiefly interested in making money. The database called " Ad Archive Report " will be updated weekly with details on who spent how much for political ads .
But some customers, especially women, have complained on social media that the handsets are getting too hefty for their hands. If I don't charge my iPhone XS Max at work, it was usually limping in the red if I got home past 8 p.m. or so.
OnePlus is also has local India-based manufacturing, allowing the company to sell their smartphones without high import duties. Impact: It's safe to say that the OnePlus 6T will not be a huge departure from the OnePlus 6 , but a refinement of the device.
Kelly's newly-hired attorney Bryan Freedman reacted to Friday's NBC announcement with a statement of his own. In its first year, Kelly's show averaged 2.4 million viewers a day, a drop of 400,000 from the year before.
Guide: Red Dead Redemption 2 - How to Upgrade Camp
Players only need to collect one debt to unlock camp upgrades, but they will still need to hunt down the other debtors eventually. Overall, we highly recommend that players just go out into the Wild West and explore for themselves.
Man charged in mail-bomb plot is a Florida Trump supporter
It is addressed to former Central Intelligence Agency director John Brennan and contains a photograph of him marked with an "X". In another he peddled theories about the billionaire political donor George Soros , who also received a package bomb.
New suspicious packages addressed to Booker, Clapper, CNN
The motive is unknown, but the recipients are all prominent targets of right-wing criticism and, in many cases, of Trump himself. Officials are trying to determine if the sender or senders was trying to sow fear or actually cause physical destruction.
David Warner walked walk-off after ‘hurtful’ sledge: Wife
Banned Australian star David Warner has briefly walked off because of an opposition sledge while playing in Sydney local cricket. When asked by Peter FitzSimons whether it was Jason's comments that caused the walk-off, Warner said: "yes".
Powerball numbers drawn for $750M jackpot
But he had a message of thanks: "I want to thank everybody", Livingston said. "I'm still going to be the same person". It could be the fourth largest in USA lottery history and the game's third largest jackpot.