3 weeks ago
Stocks Slip as Investors Eye Mideast Talks and Earnings
On Thursday, the stock market in the United States went down a little after a very strong start to the week.
This means the prices of many company shares fell.
Investors were reading news about how companies are doing and also watching to see if the United States and Iran could make a peace deal.
Some technology companies did not do well after sharing their results, so their stock prices dropped.
A space company called SpaceX went up instead, even though some people expected it to go down.
The price of oil went up too, which can affect the price of gas.
Many companies have reported how much money they made, and most did better than experts expected.
On Friday, the government will share how many new jobs were created, and investors are waiting to hear that news.
U.S. stocks closed lower Thursday after record highs earlier in the week, with the Dow falling 0.85% to 53,885.10.
Investors weighed corporate earnings and monitored signs of progress toward a U.S.-Iran peace deal.
Western Digital tumbled 13% and Sandisk dropped 6.8% on results, while AppLovin plunged 19.7% and Datadog fell 19% on revenue concerns.
SpaceX shares closed 6.1% higher despite the expiry of the lockup period for early investors.
Oil prices rose, with U.S. crude settling up 2.75% at $77.29 a barrel, as markets awaited Friday's nonfarm payrolls data.
- Who
- U.S. investors and traders, alongside companies reporting earnings such as Western Digital, Sandisk, AppLovin, Datadog and SpaceX
- What
- U.S. stocks closed lower, pausing after record highs, as investors digested corporate earnings and monitored U.S.-Iran peace talks
- Where
- New York, on Wall Street
- When
- Thursday, August 6
- Why
- Investors weighed the latest earnings reports, looked for progress toward a U.S.-Iran peace deal, and awaited Friday's nonfarm payrolls data for direction on Federal Reserve policy
Key facts
- Dow Jones Industrial Average
- Fell 464.02 points (0.85%) to 53,885.10
- S&P 500
- Lost 13.52 points (0.18%) to 7,710.03
- Nasdaq Composite
- Lost 15.09 points (0.06%) to 26,348.35
- U.S. crude oil
- Settled up 2.75% at $77.29 per barrel
- Brent crude oil
- Settled up 3.83% at $82.49 per barrel
- Earnings beat rate
- 84.8% of 382 S&P 500 companies reporting topped expectations
- U.S. exchange volume
- 17.09 billion shares traded
- SpaceX
- Closed 6.1% higher as early-investor lockup period expired
Quotes
Robert Bernstone
Head of trading at SummitTX Capital, New York
“You're seeing perhaps more muted response to macro news than you would otherwise see, probably due to the fact of the summer and a little bit of fatigue, there's a little bit of headline fatigue, specifically around Iran.”
livemint.com
Sources
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