Traders were fixated on Facebook (FB) today.
With an earnings miss last night, Facebook was down as much as 24% in after-hours trading. The sell-off brought down the NASDAQ and even the S&P.
After a lower open, the major indices traded sideways for most of the day and struggled to find a direction.
By the end of the session, the DOW was positive, but the NASDAQ and S&P finished the day with losses. Facebook ended with an 18.9% loss, its worst 1-day loss ever.
— TRENDING NOW—
FREE STOCK TRADING WEBINAR
Experienced Biotech stock investor, Kyle Dennis, will be showing you 3 easy-to-follow steps that you’re going to want in your playbook & he’s got the numbers to prove it!
Here’s where the major indices ended the day:
- The S&P finished with a 0.3% loss. Down 9 points, the S&P ended at 2,837.
- The DOW ended 0.4% higher. Adding 113 points, the DOW closed at 25,527.
- The NASDAQ was down 1.0%. Losing 80 points, the NASDAQ finished at 7,852.
- Bitcoin ended 1.1% higher. Adding $85, Bitcoin is trading at $8,205.
— TRENDING NOW—
$330,000 per year trading part-time?
Check Out This Video to Learn Jason’s 3 Simple Trading Patterns
Crude Oil (CL) finished higher for the 3rd day in a row. Up 2.4%, CL finished at $69.52 a barrel.
Looking at earnings, Visa (V) beat estimates but finished flat with a 0.1% loss. McDonald’s (MCD) ended the day with a 1.7% loss in spite of better than expected earnings.
Advanced Micro (AMD) had a great day with a 14.3% gain after an earnings beat. And airlines had a strong day after reporting strong quarterly numbers. Southwest Airlines (LUV) was up 8.4%, Alaska Air (ALK) was higher by 9.6%, and American Airlines (AAL) had a 4.8% gain.
Looking at tomorrow, traders will keep an eye on Amazon (AMZN). Amazon reported better than expected earnings after the bell and is up almost 4% in after-hours trading.
Source: RockwellTrading by Markus Heitkoetter | Original Link