This could be very bad. If investors dump tech ETFs, the other tech stocks like AMZN and GOOGL will fall. This will take down the S&P 500, which is about 20% tech.
The market has factored in Facebook’s decline and moved those $’s into winners.
Stocks Rocket Into Close on Report of U.S. Trade Deal With Europe
www.thestreet.com ^ | Updated Jul 25, 2018 4:05 PM EDT | staff
Posted on 7/25/2018, 1:47:42 PM by Red Badger
Here Are Three Hot Things to Know About Stocks Right Now
The Dow Jones Industrial Average shot higher at the close on reports of a U.S. deal with the EU to avoid a trade war. Facebook (FB) slides in after-hours trading after revenue miss. General Motors Co. (GM) slumped 4.3% after the automaker issued an outlook for 2018 that was below analysts’ estimates.
Wall Street Overview
Stocks surged in late trading on Wednesday, July 25, to end sharply higher on reports the U.S. and Europe have reached an agreement to avoid a trade war
The Dow Jones Industrial Average rose 172 points, or 0.68%, to 25,414, the S&P 500 rose 0.91% and the Nasdaq was up 1.17%.
The surge came amid reports European Commission President Jean-Claude Juncker and President Trump have reached agreement on a deal to avoid a trade war.
Sergio Marchionne, the legendary auto industry executive, died Wednesday, just days after he stepped down as CEO of Fiat Chrysler Automobiles NV (FCAU) following medical complications linked to an earlier surgery. Shares of the company fell 11% on disappointing earnings.
Sergio Marchionne Dies After Complications From Earlier Surgery
Marchionne, who assumed the role of Fiat Chrysler CEO when the U.S. carmaker emerged from Chapter 11 bankruptcy in 2009, has been widely credited with steering the company into profitability thanks to a shift toward larger vehicles in the U.S. market and a focus on cost cuts.
AT&T Inc. (T) fell 4.4% after the newly constructed digital advertising, media and telecom machine got a cool reception, despite an earnings beat.
The parent of Time Warner, DirecTV and AT&T communications networks earned an adjusted 91 cents a share in the second quarter, topping analysts’ estimates of 87 cents. Revenue in the quarter fell 2.1% from a year earlier to $39 billion and missed analysts’ estimates.
AT&T Media Ambitions Draw Cool Response
Boeing Co. (BA) posted second-quarter adjusted earnings of $3.33 a share, higher than estimates of $3.25. Revenue of $24.26 billion topped forecasts of $24.04 billion.
Shares fell 0.7%, however, as the company cut its defense operating margins and its full-year earnings guidance didn’t meet analysts’ expectations.
Boeing’s Earnings Soar, but Here Is Where Wall Street Is Focused
Coca-Cola Co. (KO) earned 61 cents a share on an adjusted basis in the second quarter, beating estimates by 1 cent. Revenue fell 8% to $8.9 billion but topped analysts’ forecasts. Shares rose 2%.
Coca-Cola Shares Edge Higher After Solid Q2, Full Year Guidance Boost
General Motors Co. (GM) posted adjusted profit in the second quarter of $1.81 a share, beating estimates by 3 cents. Revenue fell 3.1% to $36.8 billion. The automaker said it expects adjusted earnings in 2018 of $6 a share, below estimates of $6.42. Shares declined 4.3%.
General Motors Just Served Up a Reality Check to Team Trump GM Slashes Guidance After Mixed Second Quarter
United Parcel Service Inc. (UPS) shares rose 7% on Wednesday as it reported top- and bottom-line beats for the second quarter.
Earnings reports are expected after Wednesday’s closing bell from from Facebook Inc. (FB) and Advanced Micro Devices Inc. (AMD) .
Facebook is a holding in Jim Cramer’s Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stock? Learn more now.
http://freerepublic.com/focus/f-news/3673815/posts