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U.S. Stocks Plunge Nearly Three Hundred Points
(Bloomberg) -- U.S. stocks tumbled, with the Nasdaq 100 Index falling the most since April, as a drop in durable-goods orders and disappointing results from Caterpillar Inc. to Microsoft Corp. heightened concern about the economy’s strength.
Technology shares in the Standard & Poor’s 500 Index plunged 3.3 percent for the biggest drop since November 2011. Microsoft lost 9.3 percent, the most in 18 months, as software-license sales to businesses were below forecasts. Caterpillar plunged 7.2 percent after forecasting 2015 results that trailed estimates as plunging oil prices signal lower demand from energy companies. Procter & Gamble Co. slid 3.5 percent as a surging U.S. dollar cut into its earnings.
Apple Inc. jumped more than 6 percent in after-market trading after reporting revenue that topped estimates. Yahoo! Inc. surged 6 percent in late trading after announcing a tax-free spinoff of its stake in Alibaba Group Holding Ltd.
“Currency headwinds, as well as evidence of a continual deceleration of global growth, is having a major impacts on quarterly results,” Chad Morganlander, a money manager at St. Louis-based Stifel, Nicolaus & Co., which oversees about $160 billion, said in a phone interview. “Coupled with that, durable goods orders were somewhat disappointing, which scotches any optimism for today’s trading session.”
The Standard & Poor’s 500 Index slipped 1.3 percent to 2,029.55 at 4 p.m. in New York, below its average price for the past 50 days. The Dow Jones Industrial Average declined 291.49 points, or 1.7 percent, to 17,387.21, after losing almost 400 points earlier in the day. The Nasdaq 100 Index tumbled 2.6 percent for the biggest drop since April.
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Seems like the effect of ending the QE program is finally starting to show on the US economy, next will be job figures getting worse and they will blame it on the snowstorms.... time to profit take and load up the elephant gun...
(Bloomberg) -- U.S. stocks tumbled, with the Nasdaq 100 Index falling the most since April, as a drop in durable-goods orders and disappointing results from Caterpillar Inc. to Microsoft Corp. heightened concern about the economy’s strength.
Technology shares in the Standard & Poor’s 500 Index plunged 3.3 percent for the biggest drop since November 2011. Microsoft lost 9.3 percent, the most in 18 months, as software-license sales to businesses were below forecasts. Caterpillar plunged 7.2 percent after forecasting 2015 results that trailed estimates as plunging oil prices signal lower demand from energy companies. Procter & Gamble Co. slid 3.5 percent as a surging U.S. dollar cut into its earnings.
Apple Inc. jumped more than 6 percent in after-market trading after reporting revenue that topped estimates. Yahoo! Inc. surged 6 percent in late trading after announcing a tax-free spinoff of its stake in Alibaba Group Holding Ltd.
“Currency headwinds, as well as evidence of a continual deceleration of global growth, is having a major impacts on quarterly results,” Chad Morganlander, a money manager at St. Louis-based Stifel, Nicolaus & Co., which oversees about $160 billion, said in a phone interview. “Coupled with that, durable goods orders were somewhat disappointing, which scotches any optimism for today’s trading session.”
The Standard & Poor’s 500 Index slipped 1.3 percent to 2,029.55 at 4 p.m. in New York, below its average price for the past 50 days. The Dow Jones Industrial Average declined 291.49 points, or 1.7 percent, to 17,387.21, after losing almost 400 points earlier in the day. The Nasdaq 100 Index tumbled 2.6 percent for the biggest drop since April.
Read more here
Seems like the effect of ending the QE program is finally starting to show on the US economy, next will be job figures getting worse and they will blame it on the snowstorms.... time to profit take and load up the elephant gun...
Virtual currencies are worth virtually nothing.
http://thebluefund.blogspot.com
http://thebluefund.blogspot.com