Friends
It was quite a wide range of reactions to earnings releases today with Facebook and Microsoft having banner days, while 3M had a miserable earnings release and an equally miserable share price reaction. Pretty much par for the course this earnings season. Sure, there are segments of the economy, technology for one, which are doing fine, but then there are other parts that are struggling. But, even in the more difficult areas there have been discrepancies, with a company like Honeywell doing great while a company like 3M struggles. 3M was the drag on the Dow today, while Facebook and Microsoft helped power the Nasdaq higher.
As for the markets in general , for the day the Dow Jones Industrial Average was down 135 points to close at 26,461. The S&P 500 was down 1 point to finish the day at 2926. Gold was down $1 to trade at $1,278 per ounce, while oil was down $.86 to trade at $65.03 per barrel WTI.
After the close, we get earnings releases from Amazon, Intel, Starbucks and Ford among others. Once again, there should be plenty of aftermarket action leading into tomorrow’s opening. The S&P continues to dance around all-time highs, but the bulls’ conviction seems to be waning just a bit. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
