Stocks on Wall Street closed broadly lower Friday after Amazon and other big companies reported disappointing results, the latest evidence of how the coronavirus outbreak is hobbling the economy and hurting corporate earnings.
Amazon sank 7.6% after it reported quarterly profit that fell short of Wall Street’s forecasts. A sharp increase in costs related to providing deliveries safely during the pandemic outweighed a big increase in revenue. Amazon’s movements have an outsized sway on the S&P 500 because the e-commerce giant is the third-largest company in the index.“We all had these great expectations for Amazon,” said J.J. Kinahan, chief strategist with TD Ameritrade.
The slide by Exxon Mobil helped drive energy stocks across the S&P 500 to a 6% loss, the largest among the 11 sectors that make up the index.Wall Street has been bracing for a poor showing by companies this earnings season because of the economic shock from the coronavirus. Many companies have pulled their earnings guidance for the rest of the year, citing uncertainty about how much of an effect the outbreak will have on their business and the economy, which is now in a recession.
Shares of electric car and solar panel maker Tesla Inc. dropped 10.3% on Friday after Chief Executive Elon Musk tweeted that the price was too high. In a series of tweets, Musk said he was selling nearly all of his physical possessions and would not own a house. Then he wrote that “Tesla stock price is too high imo.” After that he tweeted that people should be given back their freedom, in another protest of government stay-home orders to slow the spread of coronavirus.
To the ncs
Welcome to California. A state where we release sex offenders because they are sick and arrest the people who go to the beach !
Song of hope
لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:
مصر أحدث الأخبار, مصر عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Stocks making the biggest moves after hours: Amazon, Apple, Western Digital and moreCheck out the companies making headlines after the bell.
مصدر: CNBC - 🏆 12. / 72 اقرأ أكثر »
Stocks making the biggest moves midday: Tesla, Amazon, Clorox & moreCheck out the companies making headlines in midday trading on Friday. Is Elon OK? His twitter account is producing today weird twits.. already on Mars? Gold and bitcoin will be the place to be for the foreseeable future. By a long shot.
مصدر: CNBC - 🏆 12. / 72 اقرأ أكثر »
U.S. stocks slide as renewed tariff threat compounds pandemic fearsWall Street stocks dropped sharply on Friday as investor risk appetite was soured by the revived specter of tariffs against China, threatened anew by U.S. President Donald Trump in retaliation for the COVID-19 pandemic which has brought global economies to a grinding halt. As people stop retirement funds from continuing to pump markets for the rich. Donny just keeps on winning! 😏 That's because everyone except the President knows who really pays for the tariffs - hint, it's not China.
مصدر: Reuters - 🏆 2. / 97 اقرأ أكثر »
Stocks rally on treatment hopes, currencies await ECBAsian stocks rose to a fresh seven-week high on Thursday, lifted by encouraging early results from a COVID-19 treatment trial, though bonds and currencies held cautious ranges ahead of a European Central Bank meeting later in the day. FUNNY COFFIN DANCE MEME | Funeral Dance Meme | astronomia memes SPLENDORDIARY: FUNNY COFFIN DANCE MEME | Funeral Dance Meme | astronomia memes
مصدر: Reuters - 🏆 2. / 97 اقرأ أكثر »
The world's wealthiest are sticking with stocks despite the coronavirus crisis, UBS findsAlmost half of the world's wealthy investors and business owners expect to maintain their stock portfolio at the same level for the next six months, according to a study by UBS. Why wouldn't they? 🤷♂️🤣 The market can remain irrational longer than you can remain solvent
مصدر: CNBC - 🏆 12. / 72 اقرأ أكثر »
Global Markets Follow U.S. Stocks HigherStocks rose following a rally in U.S. markets on Federal Reserve assurances that it will continue with its stimulus programs and on promising news on a coronavirus treatment. The greatest scam in the world. Wealthiest people playing Russian roulette with “our money”. The stock market is essentially akin to high rollers in Las Vegas having high stakes games. Call me cynical.
مصدر: WSJ - 🏆 98. / 63 اقرأ أكثر »