Posted on 10/24/2018 1:33:18 PM PDT by ChicagoConservative27
Stocks are closing sharply lower on Wall Street, led by a swoon in technology companies.
The S&P 500 and the Dow Jones Industrial Average erased their gains for the year.
High-flying companies like Netflix and Amazon took some of the biggest losses Wednesday. Netflix gave back 9.4 percent and Amazon dropped 5.9 percent.
Several companies sustained heavy drops after reporting disappointing results. Texas Instruments, a major chipmaker, slumped 8.2 percent and AT&T fell 8.1 percent.
The technology-heavy Nasdaq composite is now 12.3 percent below its August peak.
The S&P 500 index fell 84 points, or 3.1 percent, to 2,656.
(Excerpt) Read more at nypost.com ...
“Then these idiots will have their cooling off period...”
Agreed. And a lot of it is there aren’t even idiots involved. It is all automatic trading with computer programs making preset decisions within milliseconds.
I’ve read where entire buildings on the Jersey side of Manhattan are gutted and filled with computers for stock trading. They are closer to the main feed into Manhattan, and therefore get the data a few milliseconds ahead of Wall Street - so can beat those traders.
And that’s the difference between keeping inflation down and trashing the Market....Fed owns this...
This is all election meddling. There will be more.
the Dow hates October. Always has. Always will.
AMD stock: “The Santa Clara, Calif.-based company earned an adjusted 13 cents a share on sales of $1.65 billion in the September quarter. Analysts expected it to earn 13 cents a share on sales of $1.7 billion”
The company does good and gets punished because some analysts prediction does not come true.
I hate analysts.
Buy the company not the price
****************
Yes, buy the company but the price you pay for it is critically important. The price determines what kind of return you get on the stock, can boost your dividend yield, and can limit your downside risk. Price matters. A lot.
Microsoft Shares Rise on Strong Quarterly Earnings and Revenue Beat
https://finance.yahoo.com/m/05fa1182-2ce9-31e8-8818-0ccafc615ffc/microsoft-shares-rise-on.html
Well, it’s been due for one.
Oh please. That's just nonsense.
Fed owns this...
***************
Agree. The market started getting nervous with the last Fed increase and doesn’t like the push for higher interest rates. They are arbitrarily raising rates without regard to assessing the effects of their actions. This is flat out reckless.
But its to be expected. The Fed has a terrible track record of predicting the economy and doing stupid things.
“A Soros induced pre-election correction.”
Soros doesn’t have the cash to influence the $13 trillion market cap of the S&P 500.
“The Deep State & its controlled Fed have found the magic bullet to take out Trump. This is it.”
Really? So 100 million people who support Trump are going to switch their allegiance to democrats? How does that work?
Strange that Hillary was ‘found’ today, just hours after the news hit the air waves, and she had a fancy statement all prepared to give..
SHE MADE ME LOL...I WAS WONDERING WHERE BILL WAS? AND OF COURSE CHELSEA GAVE HER PRESS STATEMENT FIRST...
AGAIN THE CLINTON ‘GROOMING’ WEB’S DAUGHTER...THAT MADE ME LOL ALSO.
Hillary thinks she is IMPORTANT??? that is just too funny...
I picked a bad week to give up sniffing glue.
I noticed a headline on Yahoo Finance this morning that seemed to lament "The Market Drops 600 Points - Where's the Panic?"
He’s got the perfect Bond-villain name, I’ll give him that.
For kitty’s sake, I hope it survived the fall.
Yeah, the rug was pulled then, too. But wasn’t it in September? Plenty of time for McCain to suspend his campaign, tell Sarah to forget about Michigan, and run back to DC for a week to vote ‘Yes’ (again) on spending more money we didn’t have.
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