Tech Rally Leaves NASDAQ in the Black
Tech Rally Leaves NASDAQ in the BlackIt was booming Electronic Technology and Technology Services sectors that helped the NASDAQ climb out of the red and into the black today.
The NASDAQ is a notoriously tech-heavy index, so a good day in tech means a good day for the NASDAQ. And today was an excellent day. In fact, for the past week the Electronic Technology sector has outpaced the market as a whole in order to make profits, primarily in the NASDAQ.
Consumer Spending Picking Back UpA new Government report says that consumer spending is back on the rise. That's good news for the beleaguered consumer economy, which is releasing earnings reports as we speak. Consumer spending began its decline in early spring, and this latest report is the best sign yet that things are turning around. That news can't come fast enough for many retailers and manufacturers.
The report found that one of the reasons for increased consumer spending is the trajectory of gas prices, which have been incredibly low during the summertime months. That's putting more money in people's pockets and -- no surprise -- they're spending it. Consumer spending has risen for essentials and non-essentials both. Companies like Ford (F) and Yum! Brands (YUM) are sure to see a better quarter because of it.
Whole Foods (WFM) Plunges 11% on EarningsWhole Foods (WFM) released their latest earnings report today, and the results were not good. The company isn't performing as well as expected, due in part to what has been a rough patch for the consumer economy. In trading today, Whole Foods lost 4.74 points and closed out the trading day at $36.08 per share, down from highs around $65. Still, people have their eyes on Whole Foods as an underperformer just waiting to break out.
Published on Jul 30, 2015By Aaron Phillips