Google and Amazon Up, Oil Finishes Down as Dow Loses 251.90
After a mixed day of trading the Dow loses 251.90 points to 17,164.95. NASDAQ followed suit, losing 48.17 to end at 4,635.24, and the S&P 500 lost 26.26 and ended the day at 1,994.99. The overseas markets also had a tough day, with Hong Kong's Hang Seng dropping 88.80 points to 24,507.05 and England's FTSE 100 shedding 61.20 points to finish trading at 6,749.40.
Continuing Volatility For Energy Sector Despite an up and down day for the price of light crude and natural gas, more than one player in the energy market posted gains today.
Solid Gains For Internet Giants Both Google (GOOG) and Amazon (AMZN) rose today on the strength of their recent profits statements. Amazon was up 42.77 to 354.55, a gain of 13.72%. Google rose 4.70%, or 24.00 points, to finish out at 534.66 per share. Yahoo! (YHOO) also managed to stop a week-long slide and post a small recovery of 0.26 to end at 43.99, although time will tell if this is the beginnings of a recovery or just the eye of the storm.
Tough Day For Retail After a fair week despite internal troubles and a lackluster earnings report, Coach Inc, the luxury clothing and accessories manufacturer, fell 4.49% back down to 37.19 per share. Beverage company Keurig Green Mountain Inc (GMCR) also fell today, down 4.24% to 122.56. Target (TGT) was down a more modest 2.49% to finish at 73.61 per share. Wal-Mart (WMT) lost 3.12% and closed at 84.98.
Transportation Troubles Despite Cheap Gas One of the biggest losers today was Delta Airlines (DAL), which fell 5.78% to 47.31 per share on the basis of poor earnings last quarter and questions about the direction of the struggling airline. General Motors (GM) lost 1.63% to close at 32.62 and Ford Motors (F) slid 0.92% down to 14.71.
Currency and Commodities Finally, 10-year Treasury note yields fell 0.07% to 1.68% while gold had a slight increase of $5.10 to finish at $1,283.60 per troy ounce. The US dollar continued to gain value relative to the Euro, although it lost value to the British pound, Australian dollar, and peso, and yen. Cotton, coffee, and sugar all fell slightly per pound, while cocoa was up 1.64% to $2,730 per metric ton. The Bitcoin Composite Quote was down 2.37% to finish at $225.37 per coin.